Month: September 2023

Bitcoin price holds $26K as MKR, AAVE, RUNE and RNDR flash bullish signals

boss

After forming successive Doji candlestick patterns on the weekly chart for the past three weeks, Bitcoin (BTC) is on target to end the week on a positive note. This is an early sign that the uncertainty between the bulls and the bears is resolving to the upside. Although the recovery is still in its early stages, the Federal Open Market Committee meeting on Sep. 20 could boost volatility. The majority of the market participants expect the Federal Reserve to maintain a status quo on rates but surprises could arise during…

FTX restores customer claims portal after cyber breach

Bankrupt crypto exchange FTX reinstated the functionality of its customer claims portal with enhanced security measures following a recent cyberattack on non-sensitive data. Customers can now resume submitting claims for assets held before the exchange declared insolvency in November 2022. FTX suffered a cyberattack that led to a temporary shutdown. The breach exposed non-sensitive data of claimants but did not impact account passwords or funds. The exchange confirmed on Sept. 16 that none of its important systems were affected by the breach. The reactivated portal allows creditors to continue submitting…

Richard Kiyosaki dubs fiat currency ‘criminal money,’ advocates for crypto

Robert Kiyosaki, the acclaimed author of ‘Rich Dad Poor Dad,’ recently shared his positive sentiments about cryptocurrencies as the future of money. Bitcoin, the author says, could reach $120,000 next year and warns of a potential economic crisis, urging investors to consider digital currencies as a haven. Kiyosaki predicts grim fate for fiat currencies Kiyosaki recently tweeted about his strong beliefs in the potential of cryptocurrencies, owing to the upcoming TOKEN2049 crypto conference set to take place from Sept. 18-19. He took to X (previously Twitter) to express his views,…

Crypto exchange volumes declined to $52b in August 

VanEck’s monthly crypto market recap reveals that trading volumes of centralized exchanges declined to $52.8 billion in August, representing a 15.5% decrease compared to July. Bitcoin (BTC) and Ethereum (ETH) faced a challenging month, recording 9% and 10% losses, respectively. VanEck: Crypto markets hit lows In August, as reported by VanEck, the trading volumes of digital assets hit a two-year low, coinciding with an all-time low in their volatility. According to the analysis, this decline was attributed to waning investor interest. The analysts attributed the declining investor interest to the…

Ethereum unveils new testnet called ‘Holešky’ 

Ethereum’s developers launched a new testnet that’s being touted as a promising alternative to the aging Goerli network. Dubbed “Holešky,” the testnet was designed to facilitate staking, infrastructure, and protocol development. Ethereum preps for future Ethereum, the blockchain powering the world’s second-largest crypto by market cap, is continually evolving to meet the demands of a rapidly growing blockchain ecosystem. To keep pace with the ambitious roadmap, Ethereum developers have introduced a new testnet called “Holešky.”  At the core of the Holešky testnet launch is its unprecedented initial supply of 1.6…

US lawmakers advance legislation blocking the digital dollar

boss

The United States House Financial Services Committee is moving forward with legislation aimed at preventing the issuance of a central bank digital currency.  According to an announcement from chairman Patrick McHenry, the Committee will mark up two bills about a potential digital dollar on Sep. 20. Markups are sessions in which lawmakers discuss the details of a bill. It is a crucial step before a legislation moves to the House floor. One of the bills is the Digital Dollar Pilot Prevention Act, or H.R. 3712, that prohibits the Federal Reserve…

Hong Kong central bank warns crypto firms against misleading bank claims

The Hong Kong Monetary Authority (HKMA) is taking a decisive stance against cryptocurrency-related companies that falsely present themselves as banks. Hong Kong cracks down on crypto businesses The HKMA has issued a stern warning to cryptocurrency-related firms that are misrepresenting themselves as banks or describing their products as deposits. According to HKMA, this action is seen as a contravention of the Banking Ordinance. HKMA has noticed some crypto businesses using terms like “crypto bank,” “crypto asset bank,” “digital asset bank,” “digital bank,” or “digital trading bank.” They also claim to…

Hong Kong central bank warns against crypto firms using banking terms

boss

The Hong Kong Monetary Authority (HKMA), the special administrative region’s central bank, has issued a warning to users that crypto businesses presenting themselves as banks and using banking terminology could be violating the region’s banking laws.  In a press release, the HKMA said that the use of certain banking terms may be misleading the public, causing users to think that the crypto firms are authorized banks in Hong Kong. However, the central bank highlighted that under the region’s banking laws, only licensed institutions are allowed to carry out banking or…

Base Network hits almost 2M transactions in a day, still lags Polygon, BSC

Coinbase layer-2 network Base hit a new peak in terms of daily transactions, breaking its former record when it was launched in August, according to data from blockchain explorer BaseScan.  Daily transactions chart of layer-2 network Base. Source: BaseScan On Sept. 14, the layer-2 blockchain hit 1.88 million transactions, surpassing its previous record of 1.41 million transactions on Aug. 21 — the month when the network was launched. The layer-2 network surpassed other rival chains like Optimism and Arbitrum which had a combined 878,000 transactions for the day.  Despite reaching…

Base Network hits almost 2M transactions in a day, still trails Polygon, BSC

boss

Coinbase layer-2 network Base hit a new peak in terms of daily transactions, breaking its former record when it was launched in August, according to data from blockchain explorer BaseScan.  Daily transactions chart of layer-2 network Base. Source: BaseScan On Sept. 14, the layer-2 blockchain hit 1.88 million transactions, surpassing its previous record of 1.41 million transactions on Aug. 21 — the month when the network was launched. The layer-2 network surpassed other rival chains like Optimism and Arbitrum, which had a combined 878,000 transactions for the day.  Despite reaching…