Day: September 27, 2023

Binance France temporarily expands partnership with Paysafe

Binance France has temporarily extended its collaboration with Paysafe. The partnership, which was supposed to end on Sep. 25, has been prolonged to ensure smooth operations. Binance France clients are now urged to convert their fiat balances to crypto. In June, Binance said it was working with Paysafe, the global payment solutions provider, to implement an orderly and fair process to terminate this service over the next few months. In the Sep. 26 update, a Binance France spokesperson said the exchange had negotiated more time for clients and would provide another update on…

Long-Term Holders Deposit To Exchanges

On-chain data shows that Bitcoin long-term holders are making deposits to exchanges currently, something that could be bearish for the price. Bitcoin Exchange Inflow CDD Has Spiked Recently As explained by an analyst in a CryptoQuant Quicktake post, investors have been making deposits to spot exchanges recently. There are two relevant indicators here: the “exchange inflow” and the “exchange reserve.” The former of these keeps track of the total amount of Bitcoin that the holders are transferring to centralized exchanges, while the latter one measures the total amount sitting in…

Hashkey HK opens AVAX trading with $1M portfolio requirement

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Hong Kong crypto exchange Hashkey, the first to receive a retail crypto license in the Special Administrative Region (SAR), will open Avalanche (AVAX) trading on its platform. However, there is a catch. According to the September 27 announcement, only professional investors, or individuals possessing an investment portfolio with a value exceeding 8 million Hong Kong dollars ($1 million), as defined by the SAR’s Securities & Futures Commission (SFC), can trade AVAX on the Hashkey exchange. Currently, only Bitcoin (BTC), Ether (ETH), and Tether (USDT) are approved by the SFC for…

LINK Price Broke Critical Level, Macro Downtrend Behind?

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The LINK price has been the best performer in the crypto top 20 by market cap over the past week, data from Coingecko shows. The cryptocurrency recently broke out of a critical level and a downtrend and seems poised to re-capture previously lost territory. As of this writing, the LINK price trades at $7.70 with a 4% profit in the last 24 hours. Over the previous week, the cryptocurrency recorded a 12% profit while other tokens in the top 20 have mostly seen losses, with Bitcoin Cash (BCH) standing as…

ETH Staking Has a Bright Future, Despite Regulatory Uncertainty

CoinDesk Indices in partnership with Coin Fund has created the Composite ETH Staking Rate (CESR), a benchmark for investors to hold managers, exchanges, and service providers accountable for their returns. Indices are the cornerstone of a robust derivatives market and institutional participation. There has been a dearth of professional index products for institutional investors. DeFi has mature indices, through products like staked ETH, but TradFi investors that want private fund exposure have to contend with deviations from NAV, high fees, no staking and sloppy compliance. Source

A Few Reasons Why Ethereum’s Staking Rate Is Vital for the Future

This shift, which made it so validators are rewarded with both protocol emissions and priority transaction fees, also unlocked something perhaps less obvious but absolutely groundbreaking for Ethereum: the introduction of a native interest rate. Staking ether (ETH), the ecosystem’s native token, now pays an interest rate. This forms a sort of bedrock layer – similar to the role interest rates play in traditional finance – that could power a new, global staking economy. For this to work, though, there must be a reference rate, so investors know what the…

Federal Judge’s Ruling Boosts Odds of US Spot Bitcoin ETF Approval, Adds Optimism to Grayscale’s Bitcoin and Ethereum Trusts

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My view is if a U.S. spot bitcoin ETF gets approved, there should be little argument for holding up a spot ether ETF. And Grayscale itself has said it plans to convert ETHE and other products to ETFs. I wouldn’t hold your breath when it comes to SOL, ATOM or any other smaller  crypto asset, but we have first-hand knowledge that ETH ETFs work. In fact, ethereum ETFs launched within weeks of the first bitcoin ETF. Regulators in Canada were comfortable with the product because there is a regulated futures…

EigenLayer’s Sreeram Kannan on the Hot (and Risky) Ethereum Trend of ‘Restaking’

I think one thing that EigenLayer did is by creating this new category, that validation, if I can borrow the Ethereum trust network to do new things: I can build a new layer 1, I can build a new like oracle network, I can build a new data availability system, I can build any system on top of the Ethereum trust network, so it internalizes all the innovation back into Ethereum, or aggregates all the innovation back into Ethereum, rather than each innovation requiring a whole new system. Source EigenLayersEthereumHOTKannanrestakingRiskySreeramTrend…

Marathon reportedly mined an invalid Bitcoin block

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Marathon Digital Holdings (MARA), a publicly traded crypto mining company, reportedly mined an invalid block on Bitcoin, according to developers, miners and researchers The invalid block was at height 809478, with anonymous Bitcoin developer “0xB10C” writing on ooX that MaraPool — Marathon’s mining pool — had a “transaction ordering issue.” It seems like MARAPool had a transaction ordering issue. 66dfefcdc3eeec2745c11f511f6068d62f34c34c767ba0feed47f63f01ccc2d8 is the 6th tx in the invalid block. It spends from 7d18f0eefce0497b5d0c9b61fdf816b7744587c7e5e57acc53de71d1dae59725, which is the 1454th tx in the block. https://t.co/P3txhKqVS0 — 0xB10C (@0xB10C) September 27, 2023 This was confirmed…