Day: September 13, 2023

Blockchain active users can be misleading metric: Crypto data scientist

Active user count can be a misleading metric for measuring the state of a crypto ecosystem as a small group of users can generate a significant portion of activity across multiple wallets, argues the co-founder of a blockchain analytics provider. 0xScope’s co-founder and chief data scientist, Philip Torres, told Cointelegraph amid the Bitget EmpowerX Summit that between monopolistic founding entities, bots, exploiters and airdrop hunters — as much as 80% of blockchain activity can be generated by just a small number of entities — despite looking healthy on the outside.…

Sony to build a blockchain for web3 infrastructure with Startale Labs

Sony and Startale Labs are entering into a joint venture agreement to develop a blockchain that could become the backbone of global web3 infrastructure. The joint venture company will be established under the name “Sony Network Communications Labs Pte. Ltd.” Collaborating more deeply According to the press release shared with crypto.news, the companies believe in the potential of web3 and plan to “create killer web3 use cases to drive” its adoption. This announcement comes after the capital partnership Startale Labs and Sony Network Communications established in June and will be,…

US ‘the only country’s crypto startups should avoid, says Ripple CEO

boss

The United States is one of — if not the worst — place to launch a cryptocurrency startup in the world right now, according to Ripple CEO Brad Garlinghouse, whose firm is in a legal battle with the U.S. securities regulator. “The only country I would not encourage you to start a company right now is in the U.S.,” Garlinghouse said on a Sept. 12 panel at Token 2049 in Singapore. The Ripple boss wants the U.S. to take note from the likes of Singapore, the United Kingdom, the United…

Crypto Derivatives Exchange BitMEX’s Prediction Market is Now Live

BitMEX’s prediction market, which its calling its newest derivative product, is going for the former rather than the latter, launching with offerings of prediction contracts on the percentage recovery rate of FTX’s bankruptcy claims, the chance of an approval of a Bitcoin Exchange Traded Fund on or before October 17, and the chances of Sam Bankman-Fried ending up in jail. Source

Binance to donate $3m in BNB to Moroccan users affected by earthquake

Following the earthquake that struck Morocco on Sept. 8, Binance Charity, a non-profit organization connected to the world’s largest exchange, shares their commitment to support those in need. The platform’s efforts include airdropping $3 million BNB to Binance users identified as living in areas affected by the tragedy. Providing relief The earthquake, which occurred on Friday night, had a magnitude of 6.8, centering in the High Atlas Mountains close to Marrakech. At press time, the death toll neared 3,000 people. Given the impact of this natural disaster, the CEO of…

TRX Again Outperforms Bitcoin and ETH, $0.10 Possible?

boss

Tron price is showing positive signs above $0.080 against the US Dollar. TRX is outperforming Bitcoin and could start another increase toward $0.10. Tron is moving higher above the $0.0800 pivot level against the US dollar. The price is trading above $0.080 and the 100 simple moving average (4 hours). There is a connecting bullish trend line forming with support near $0.0780 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair could continue to climb higher toward $0.085 or even $0.095. Tron Price Surges Further…

Ethereum Price Faces Uphill Task and Could Restart Decline To $1,500

Ethereum price is attempting a recovery wave above $1,580 against the US Dollar. ETH is struggling to clear $1,620 and might start another decline. Ethereum is struggling to gain pace for a move above $1,600 and $1,620. The price is trading below $1,600 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $1,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another decline unless there is a close above $1,620. Ethereum Price Struggles Above $1,600 Ethereum’s…

Rep. Tom Emmer reintroduces anti-CBDC bill to Congress

boss

Legislation aimed at preventing “unelected bureaucrats in Washington” from issuing a central bank digital currency (CBDC) has been reintroduced by Representative Tom Emmer. On Sep. 12, Emmer and 49 original co-sponsors revived the “CBDC Anti-Surveillance State Act” in the United States House of Representatives in a bid, they claim, to protect Americans’ right to financial privacy. “The administration has made it clear: President Biden is willing to compromise the American people’s right to financial privacy for a surveillance-style CBDC,” Emmer, a Republican, said in a statement, adding: “That’s why I’m…

Bitcoin Price Signals Another Bearish Formation and Could Revisit $25K

Bitcoin price struggled again near the $26,500 resistance. BTC is forming a double-top pattern and could revisit the $25,000 support zone. Bitcoin recovered above $26,000 but struggled to clear $26,500. The price is trading above $25,800 and the 100 hourly Simple moving average. There is a short-term contracting triangle forming with resistance near $26,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another decline if it breaks the $25,550 support zone. Bitcoin Price Faces Uphill Task Bitcoin price started a decent increase…