Day: September 19, 2023

Crypto wallet market to grow by $686m by 2026: report

The market research firm Technavio’s new report shows that the crypto wallet market will grow by $686 million by 2026. The report is called “Crypto Wallet Market by Product and Geography – Forecast and Analysis 2022-2026.” Technavio estimates that the potential growth of the crypto wallet market from 2021 to 2026 will be over $686 million. This growth is driven by people’s increasing interest in digital currencies, which offer faster and cheaper bank transfers, a surge in e-commerce, higher currency transactions in low-income nations, and a rise in international remittances.…

Former Andreessen Horowitz execs launch Bastion after $25M funding round

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Two former executives from Andreessen Horowitz (a16z)’s crypto division have managed to raise $25 million in seed funding for their newly launched Web3 startup Bastion — despite the recent drought in venture capital funding.  On Sept. 18, the new firm, Bastion, announced the launch of its product suite. The firm’s goal is to enable companies to integrate Web3 infrastructure into their existing enterprise technologies. Bastion was co-founded by two former executives with a16z’s crypto division, including former chief technology officer Riyaz Faizullabhoy and former chief security officer Nassim Eddequiouaq who…

Bitcoin Price Sees Technical Correction, Here’s What Could Propel It Back To $28K

Bitcoin price climbed higher and tested the $27,500 resistance. BTC is correcting gains, but it could start another increase unless there is a move below $26,500. Bitcoin is holding gains above the $26,500 support level. The price is trading above $26,550 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $26,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $26,500 support zone. Bitcoin Price Eyes Another…

Spacemesh’s members up 5X since July launch

A few weeks after launching, the Spacemesh protocol is making steady progress. Following nearly five years of research and development, the platform has demonstrated positive outcomes. Notably, this growth is without extensive marketing efforts and is primarily driven by word-of-mouth Tomer Afek, the co-founder and CEO, takes us through the project, explaining why the platform has been gaining traction. In epochs 2, 3, and 4, community members increased from 2,800 to 32,000 in just a few weeks. This was all due to word of mouth rather than any marketing efforts.…

Crypto VC Firm Blockchain Capital Secures $580M For Expansion Of Investment Funds

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Blockchain Capital, a venture capital company founded by Bart Stephens and Brad Stephens in 2013, has successfully closed two new funds, raising a total of $580 million.  The firm’s general partner, Spencer Bogart, confirmed the news to TechCrunch, stating that the funds consist of a sixth early-stage fund and the firm’s first “opportunity fund.”  Approximately two-thirds of the $580 million will be allocated to the early-stage fund, while the remaining one-third will be dedicated to the opportunity fund. Blockchain Capital Raise For Two New Crypto Funds Per the report, the…

Canto, Astar blockchains plan migration to Ethereum ecoystem as layer 2s

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Cosmos-native layer-1 blockchain Canto has become the latest chain to migrate to Ethereum as a layer 2 zero-knowledge rollup, after another layer-1 blockchain, Astar, announced similar plans moving from the Polkadot ecosystem to Ethereum. Canto is a permissionless general-purpose blockchain, which is Ethereum Virtual Machine (EVM)-compatible with aims to onboard the traditional financial sector to decentralized finance applications. Upon an official agreement reached by Canto Commons — a framework where contributors coordinate ideas and solutions to the protocol — its core developers will build a ZK rollup on Ethereum’s second…

Malta takes next steps to align with EU’s MiCA regulation

Malta’s Financial Services Authority has initiated the next step to revise its cryptocurrency regulations, aiming to align them with the forthcoming European Markets in Crypto-Assets (MiCA) regulations set to go into effect in December 2024.  Malta’s announcement aims to bring about changes in its regulations governing exchanges, custodians, and portfolio managers, which will result in an alignment with the European Union’s MiCA framework. Other EU nations, such as France, have also introduced new rules in line with MiCA.  The view from Malta Originally established in 2018 with the Virtual Financial Assets (VFA),…

SEC sees temporary setback in request to access Binance.US software

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The United States Securities and Exchange Commission (SEC) has failed to win immediate access to Binance.US’s software in a Sept. 18 hearing, with the judge saying he isn’t “inclined to allow the inspection at this time.” The hearing was held to discuss SEC’s motion to compel Binance to hand over detailed information and make its executives more available for depositions, which has been a point of contention between the two over the past week.  In a hearing, Judge Faruqui said that he wasn’t “inclined to allow the inspection at this…

Why It Could Still Be 2 Years Away

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Bitcoin’s last all-time high was $69,000 in November 2021; as of September 2023, it’s been 22 months since that peak. While estimating what price Bitcoin could reach next can be very useful, it’s also important to estimate when a new peak could occur. History suggests this may still be some time away, as analysis shows that the next Bitcoin peak could arise around the end of 2025. Previous Cycles A specific pattern seems to occur when looking at previous tops and bottoms. The three previous bottoms, January 2015, December 2018,…

How Much Will Dogecoin Trade At If It Attains The Market Cap Of Bitcoin Or Ethereum?

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Comparisons in the crypto market are not out of the norm, especially given the fierce rivalry that goes on between two or more tokens at a time. So this report will take a look at where the price of Dogecoin will realistically be if the meme coin’s market cap were to reach the current market cap of Bitcoin or Ethereum. Dogecoin With The Market Cap Of Bitcoin Bitcoin, the world’s largest cryptocurrency, has a market cap of $521 billion. This is over 2x the market cap of the second-largest cryptocurrency…