Day: November 1, 2023

Polkadot firm, dYdX launches on Cosmos while Everlodge investors are bullish

The crypto market rallied in “Uptober” as Bitcoin (BTC) soared as high as $35k. Altcoins like Polkadot (DOT) and Cosmos (ATOM) followed, seeing gains on the weekly chart. On the other hand, analysts are bullish on Everlodge (ELDG). Polkadot rises 4.33% Polkadot released around 99 million DOT into circulation on Oct. 24.  Despite this, DOT remains relatively firm partly because of the “Uptober” altcoin market rally.  Overall, in October, prices were firm. As of Oct. 30, DOT rose 4.33% and 5.32% on the weekly and monthly charts, respectively, reaching $4.32.…

FTX and Alameda Research wallets send $13.1M in crypto to exchanges overnight

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The crypto wallets linked to now-defunct crypto exchange FTX and its sister trading firm Alameda Research have sent over $13 million in different altcoins to numerous crypto exchanges early on Nov. 1. According to data from on-chain analysis firm Spotonchain, the FTX wallet first transferred $8.12 million worth of altcoins to Coinbase. The assets include 46.5 million GRT ($4.85 million), 972,073 RNDR ($2.3 million), and 708.1 MKR ($967,000). FTX and Alameda linked crypto deposit on Coinbase. Source: SOC The wallet addresses of FTX and Alameda Research made another $5.49 million…

‘AI’ takes Collins dictionary word of the year, ‘debanking’ makes shortlist

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Artificial intelligence, more specifically its abbreviation “AI,” was crowned word of the year for 2023 in the Collins dictionary, one of the world’s earliest English-language dictionary publishers. The Collins dictionary defines AI as “the modeling of human mental functions by computer programs.” The dictionary publisher described AI-powered language models as “bursting into the public consciousness” at the end of 2022. It said AI has not only seen rapid development in 2023 but has also been “much talked about.” Collins wrote that AI is considered to be the “next great technological revolution.”…

Turkey aims to shed FATF ‘grey list’ status with new crypto regulations

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Turkey is reportedly drafting fresh regulations to govern crypto assets in an effort to convince the Financial Action Task Force (FATF) — an international organization responsible for combating financial crimes — to remove it from a “grey list” of nations that have not done enough to combat money laundering and terrorist financing. The FATF placed Turkey on its grey list in 2021. According to a report, during a discussion with a parliamentary commission on Oct. 31, Turkish Finance Minister Mehmet Simsek said a FATF report determined that Turkey adhered to…

65% of Spaniards aren’t interested in using digital euro

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As the Bank of Spain embraces the potential adoption of a digital euro, the country’s population doesn’t appear to have the same strong appetite for the European Central Bank’s digital currency project.  This emerges from the results of a survey published by the Bank of Spain entitled “Study on the habits in use of cash.” The survey was conducted by Ipsos on two groups, totaling 1,600 respondents: the general public and the representatives of small businesses. It also included questions on the digital euro, a potential pan-EU central bank digital currency…

XRP Whale Activity Peaks At 3-Month High As Smart Money Buys

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XRP has witnessed a remarkable surge of over 29% in its value over the last 12 days. The price has risen from $0.4771 to a two and a half month high of $0.6209 yesterday. Sharks And Whales Make A Splash This impressive price hike coincides with an increase in whale transactions as well as the number of wallets holding more than 10,000 XRP (worth approx. $5,930), indicating heightened interest from retail investors as well as large investors, commonly referred to as “whales” in the crypto community. On-chain analytic firm Santiment…

BitGo Granted Crypto Custody License by German Regulator, BaFin

“BaFin is recognized as one of the world’s key trendsetters in crypto regulation. It enables the progress that digital currencies entail while creating a secure regulatory framework,” said Dejan Maljevic, the managing director of BitGo Europe, in a statement. “We have worked hard to obtain this license. Now we are pleased to have reached this milestone.” Source

Near taps Nym for metadata privacy, encryption services

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Layer-1 protocol Near has tapped blockchain security firm Nym to provide end-to-end encryption and metadata privacy services for its ecosystem. Nym, which provides blockchain agnostic layer-0 privacy infrastructure, will avail its mixnet tools to encrypt and cloak blockchain traffic and communication across the Near Protocol ecosystem. Masking off-chain metadata traffic will protect transaction data during communication and create a barrier for malicious actors looking to de-anonymize users through access to IP addresses. Related: Cricket World Cup to feature Web3 fan app as ICC taps into Near blockchain An announcement from the…

BTC price gets $36K FOMC target as Bitcoin prints 29% ‘Uptober’ gains

Bitcoin (BTC) has seen its highest monthly close since May 2022 after “Uptober” delivered near 30% BTC price gains. BTC/USD 1-month chart. Source: TradingView Monthly close boosts Bitcoin bull market hopes Data from Cointelegraph Markets Pro and TradingView confirms Bitcoin bulls successfully held on to upside into Nov. 1. After navigating a choppy mid-month trading environment, hodlers were treated to a finale similar in character to October’s initial breakout. Monitoring resource CoinGlass thus put October as the second best-performing month of 2023. Bitcoin gained 28.5%, trailing only January’s 39.6%. BTC/USD…