Day: September 18, 2023

This Bitcoin Metric Continues To Retest Bear-Bull Junction, Will A Break Happen?

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On-chain data shows a Bitcoin indicator has continued to retest the bear-bull transition point recently, but is yet to obtain a break. Bitcoin Short-Term Holder SOPR Is Retesting The Break-Even Level As pointed out by an analyst in a CryptoQuant post, the short-term holders have continued to sell at a loss recently. The relevant indicator here is the “Spent Output Profit Ratio” (SOPR), which tells us whether the average investor in the Bitcoin market is selling at a profit or at a loss right now. When the value of this…

$2,000,000,000 Worth of Crypto Wash Trading on Ethereum-Based Decentralized Exchanges, Says Surveillance Firm

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A crypto surveillance firm says that billions of dollars in fake market volume are flowing through decentralized exchanges (DEXs) on Ethereum (ETH). In a new report, Solidus Labs says crypto token deployers and liquidity providers have wash traded at least $2 billion worth of crypto assets on Ethereum-based DEXs since 2020. Wash trading involves entities buying and selling an asset at the same price from themselves to artificially inflate the trading volume and attract more investments and liquidity According to Solidus, 67% of the roughly 30,000 DEX liquidity pools it…

Hut 8 Merger with USBTC Greenlighted by Canadian Supreme Court

The merger between Hut 8 and USBTC is not just a significant event within the crypto space, it also holds great promise for investors and the broader financial markets. In a recent development, Hut 8 Mining Corp (NASDAQ: HUT) has received final approval from the British Columbia Supreme Court for its merger with US Bitcoin Corp (USBTC). The Journey to Merger Between Hut 8 and USBTC The merger between Hut 8 and USBTC was first announced in February 2023, marking a pivotal moment in the crypto space. However, this momentous…

What is Gala Games and how to buy GALA coin?

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Echoing the momentum of GameFi (gaming and finance) and the great success of Axie Infinity, Gala Games was launched in 2019 to pursue technology development and innovation in play-to-earn (P2E) blockchain gaming. The global market size of blockchain gaming exceeded $4.6 billion in 2022 and is expected to reach around $65.7 billion by 2027, establishing itself as one of the most promising sectors revolutionized by blockchain technology. Gala Games offers players a plethora of blockchain games that encourage players to gain in-game rewards and earn cryptocurrency and nonfungible tokens (NFTs).…

U.S. SEC Rips Into Binance.US Over ‘Shaky’ Client Asset Custody, Ties to Ceffu

In June, the watchdog sued Binance.US, the exchange’s global parent Binance Holdings and founder Changpeng “CZ” Zhao, alleging they ran an unlicensed securities exchange. The SEC’s findings in the case so far demonstrate “the urgent need for an inspection,” Monday’s filing said, as the regulator restated its worries about Binance’s use of custody platform Ceffu. Source

Coinbase’s BASE Shows Teeth As TVL Nears Solana

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Ethereum-based Layer 2 network “Base” has put on an impressive performance yet again, with its Total Value Locked (TVL) coming close to one of the most notable blockchains. Coinbase’s BASE Has Outperformed Solana Coinbase’s layer 2 blockchain network, Base, has seen an upward trajectory movement since it was introduced to the public, outperforming some of the notable blockchains in the crypto market. The network is now drawing close to Solana in terms of TVL, indicating remarkable growth within the network. Data from DeFiLlama shows that the blockchain network now sits…

Tether launches testing phase for Bitcoin mining platform

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Paolo Ardoino, chief technology officer of Tether, announced the launch of the testing phase for Moria, the company’s Bitcoin mining platform. In a posting on X (formerly Twitter), Ardoino declared the platform has achieved a significant milestone during this phase by deploying its initial batch of containers and miners, including extended control over PDU management and miner interaction. A commitment to security Testing @Tether_to Moria #bitcoin mining platform with first containers and miners.All PDU management, interaction with miners (set frequency, power, etc) is now fully controlled by the software.All write…

Senator Elizabeth Warren’s Crypto Money Laundering Bill Gains Momentum as More Sign On

The wide-ranging bill, introduced in July, would – among other things – extend anti-money-laundering requirements from the Bank Secrecy Act to providers of digital assets wallets, crypto miners, validators and other network participants. One of its original co-sponsors was Sen. Joe Manchin (D-W.V.), who has often occupied a middle ground between the parties on important legislative issues, and two Republicans also supported it from the start: Roger Marshall (R-Kan.) and Lindsey Graham (R-S.C.). Source