Month: September 2023

New Reports Shows How Much Capital Was Pulled Out Of Crypto In August

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The crypto industry is known for its sheer price movement volatility, driven mainly by events and liquidity crunches. Since the beginning of the year, there has been a noticeable and consistent outflow of cash from the cryptocurrency market, which is unsurprising.  According to Bitfinex’s latest report, this capital drain was evident in August, as the crypto market saw an exit of about $55 billion in capital from major cryptocurrencies. $55 Billion Drained In The Past Month Bitfinex’s analysis, which measured the aggregate realized value metric of Bitcoin (BTC), Ethereum (ETH),…

IOTA Eyes Big Crypto Leagues Again With Series of Network Boosting Plans

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Swan and BitGo to Form Bitcoin (BTC) Only Trust Company

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Altcoins Lead Gains and Deutsche Bank to Explore Tokenization

As bitcoin (BTC) moves higher, the recently shorted alternative cryptocurrencies like Solana’s SOL may see leverage liquidations and exaggerated price rallies. Since Monday’s brief move below crucial support at $25,000, bitcoin has risen over 6% to trade near $26,600, CoinDesk data show. Upbeat China August retail sales and factory output data released early Friday revived risk sentiment in financial markets, clearing the way for continued price gains in the leading cryptocurrencies. Bitcoin cash (BCH) led advancers, adding 8% over the past 24 hours. Maker DAO’s MKR followed with a rise…

Remitano Exchange Reportedly Targeted in $2.7 Million Security Breach; Tether Freezes $1.4 Million

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Crypto exchange Remitano faced a series of substantial and suspicious withdrawals on September 14, prompting some blockchain experts to suspect a possible hack. In total, approximately $2.7 million worth of cryptocurrencies were withdrawn through these dubious transactions, news reports said. Tether took swift action by freezing one of the addresses allegedly used by the attacker, safeguarding potentially $1.4 million worth of customer assets, the coverage added. Around 12:45 pm, an established Remitano hot wallet initiated transfers to an address devoid of any prior transaction history. This unusual activity involved the…

ANZ Takes Lead in Australia’s Banking Sector with A$DC Stablecoin

Chainlink’s Cross-Chain Interoperability Protocol (CCIP) might provide a lasting solution to the challenge posed by blockchain fragmentation. In a recent development, the Australia and New Zealand Banking Group (ANZ), one of Australia’s major banks, is taking significant steps toward the launch of its bank-issued stablecoin A$DC. This move follows a successful test transaction conducted using Chainlink’s Cross-Chain Interoperability Protocol, and it aims to facilitate the simulation of tokenized asset purchases, showcasing the bank’s dedication to exploring decentralized networks. Nigel Dobson, ANZ’s Portfolio Lead, announced this milestone in a statement, characterizing…

TSLA Stock Up 1.75%, Tesla to Disrupt Auto Design and Manufacturing Process with Gigacasting Breakthrough

Tesla is likely to decide on a breakthrough method of die casting multiple sections of its EVs to reduce cost and improve production. Tesla Inc (NASDAQ: TSLA) has reportedly figured out a technological breakthrough that will transform the process of making electric vehicles. Fine-tuning the process will help Tesla cut production costs considerably. Tesla stock closed 1.75% higher at $276.04 on the news. Five people familiar with the matter spoke with Reuters anonymously. According to these persons, Tesla is working on this innovation, a way to die cast almost all of the…

Will ADA Bulls Hit $0.3 Milestone?

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Cardano (ADA) has been making waves recently, pulled up by a newly found enthusiastic demand pressure at the $0.24 support level. Investors and enthusiasts are eagerly watching to see if this bullish trajectory is solid enough to inspire confidence in a more extended recovery. After a period of uncertainty, ADA’s price has seen a resurgence, thanks in part to the $0.24 support level. This renewed demand has ignited a relief rally, catching the attention of traders and analysts alike. But, the question on everyone’s mind is whether this upward momentum…

Baidu and Qualcomm Join Forces to Shape Metaverse Future

Qualcomm Global Senior Vice President Cheng Lixin expressed optimism about the partnership, emphasizing its potential to accelerate the development of China’s metaverse.  Chinese tech giant Baidu Inc (HKG: 9888) has announced a strategic partnership with Qualcomm Inc’s (NASDAQ: QCOM) local unit. This collaboration promises to propel the development of Extended Reality (XR) and Generative Artificial Intelligence (AI) to new heights. The partnership, revealed via a compelling social media statement, marks a significant step toward reshaping the digital landscape and setting the stage for the forthcoming metaverse revolution. Baidu and Qualcomm…