Volume figures might have been worse had it not been for the brief volatility spike on Aug. 17 and at the end of the month. Bitcoin, the leading cryptocurrency by market value, fell over 10% to $25,000 on Aug. 17, tracking risk aversion in traditional markets. The price briefly rose to $28,000 Aug. 29, cheering Grayscale’s legal victory over the SEC. Source
Chainlink (LINK) has been a standout in the crypto market recently, registering an 11% increase over the past six days, even as the broader crypto market sentiment remains subdued. Will Uptober Start Early For Chainlink? A significant factor that might be driving this price action is the behavior of LINK’s major holders. On-Chain analysis firm, Santiment, highlighted this in a recent tweet, stating: “Chainlink’s key shark tier that holds between 10K-100K LINK has been on an accumulation spree.” Diving deeper into the data, there are now 3,127 wallets holding between 10,000-100,000…
Proof-of-stake (PoS) blockchain platform Avalanche is expecting 5-10 million transactions on a subnet as a Japanese loyalty program company that claims to have 100 million users has partnered with the network to bring their mass-scale loyalty rewards program into a blockchain. Cointelegraph’s Andrew Fenton interviewed Nick Mussallem, Ava Labs’ head of product at the Korea Blockchain Week 2023, held in Seoul, South Korea. The duo spoke about various topics including the recently announced partnership with blockchain services provider PlayThink and Japanese points service provider Loyalty Marketing to onboard more than…
Palau, a country in the western Pacific Ocean, is wrapping up its United States dollar stablecoin project after launching the pilot in August. Jay Hunter, a Palau Ministry of Finance member and head of the digital residency program, took to X (formerly Twitter) to announce that the government will cease the distribution of the Palau Stablecoin (PSC) on Sept. 8. Following the distribution halt, Palau Stablecoin will also be frozen after Sept. 15, becoming unavailable for spending by users, Hunter said, noting: “After Sept. 15, you will no longer be…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin (BTC) has been consolidating below the $26,000 mark over the past week as the global crypto market condition turned red. However, with the recent market-wide bullish momentum, BTC whale activity and social dominance have witnessed a significant spike. Bitcoin is up by 0.03% in the past 24 hours and is trading at $25,755 at the time of writing. BTC price, whale activity, supply on exchanges and active addresses – Sep. 7 | Source: Santiment The…
A viral track from the anonymous producer “Ghostwriter” using an artificial intelligence (AI)-generated vocal track of the rapper Drake has been submitted for consideration for a Grammy award, according to a Sept. 5 New York Times report. The track “Heart on My Sleeve” has been submitted by the Ghostwriter team to the Recording Academy, the organization behind the Grammys, for nomination in Best Rap Song and Song of the Year, a representative told the NYTs. Listen to this AI generated song featuring Drake & The Weeknd. It goes so damn…
The European Union’s financial services chief, Mairead McGuinness, believes there’s no reason to rush with the digital euro until after the next European elections in June 2024. In her opinion, the EU’s central bank digital currency (CBDC) project should be approached “quietly and slowly” by the next EU Commission, which will be appointed by the then-incoming parliament. McGuinness mentioned the digital euro during her speech at Brussels-based think tank Bruegel on Sept. 6. She highlighted that the European Central Bank (ECB) would be deciding the project’s fate in October. However,…
The Delaware Trust Company will act as the trustee of the spot Ether ETF from Ark Invest and 21Shares, while Coinbase will act as the crypto custodian. While the broader crypto market awaits the launch of the Ethereum futures ETF, financial players are gunning for a spot Ether ETF. On Wednesday, September 6, asset managers ARK Invest and 21Shares filed with the US Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) that would directly hold Ether (ETH). Spot Ether ETF This is the first-ever attempt to list the…
Sheffield said that Visa sees great potential for blockchain technology, especially in global and cross-border payments. Payments giant Visa Inc (NYSE: V) will rely on multiple blockchains in the future. This is according to a blog post by the company’s Head of Crypto Cuy Sheffield dated September 6. In the post, Sheffield also spoke on Visa’s new partnership with the Solana blockchain. “We imagine a future where Visa’s network of networks involves more than just multiple currencies and bank settlement rails, but also multiple blockchain networks, stablecoins, and CBDCs or…
In addition to exploring the Chinese market, Lucid is actively expanding its production capacity at its Arizona factory and preparing to launch its new SUV model called the Gravity. Lucid Motors, a prominent US electric car manufacturer, is actively considering entering the highly competitive electric vehicle (EV) market in China, the world’s largest and fastest-growing market for EVs. Although no specific timeline has been announced, the company is taking a cautious approach to ensure a successful entry. According to a CNBC report that cited an interview with Lucid’s Chief Engineer,…