Day: November 29, 2023

Celo Developer Proposes Mid-January Timeline for Evaluating Closely Watched Layer-2 Move

“Note that we are selecting codebases and sub-components here, so we feel it is less useful to directly compare metrics like TVL, transaction count, users, except as indicators of what a closer collaboration and/or shared bridge between the two ecosystems could look like in future,” cLabs wrote. “This exercise is not to select a ‘best L2 stack.’ It’s to figure out which is the best fit for the specific technical and non-technical needs of the Celo L2 project.” Source

Can Sony and Microsoft bring blockchain to gaming consoles?

Sony and Microsoft, two of the biggest names in gaming, have been making significant moves towards blockchain technology in recent years. This is an important development, as it has the potential to not only revolutionize the gaming industry but it could be the Trojan horse that makes blockchain a mainstream possibility. Sony has filed a patent for a system allowing players to transfer digital assets between PlayStation titles using blockchain technology. This would enable unified progress and asset ownership across different games rather than having assets locked to individual games.…

Analyst Identifies 3 Key Factors That Will Trigger Parabolic Move

The XRP price keeps being projected to enjoy a massive rally soon enough. Many have continued to speculate when this might happen. A crypto analyst has some answers, as he has highlighted three key indicators that could trigger this rally.  Three Determinants For A “Parabolic Move” In a post shared on his X (formerly Twitter) platform, crypto analyst JD noted that XRP’s monthly was coming. He went on to state three things that “need” to happen if XRP is to see a massive rally. The first factor he highlighted was…

FTX May Sell $744M Worth of Grayscale, Bitwise Fund Shares Including GBTC, Bankruptcy Court Approves

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Sei v2 to include EVM compatibility

Sei Labs introduced version 2 upgrades for its Sei L1 network which includes support for Ethereum Virtual Machine (EVM) by adding Geth, a popular Ethereum programming language. Layer-1 blockchain Sei plans to provide support for EVM which would allow developers to migrate existing Ethereum-powered smart contacts to the platform and build decentralized applications (dapps) compatible with the Ethereum standard on Sei.  Sei v2: Parallelizing the Ethereum Execution Environment Sei v2 is poised to become the first parallelized EVM blockchain. This major proposed update from Sei Labs aims to deploy a…

Bitcoin Eyes New Highs As Bloomberg Analyst Reiterates 90% Chance Of January ETF Approval

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Bitcoin (BTC), the leading cryptocurrency, is currently in an upward accumulation phase, inching closer to surpassing its current yearly high of $38,390.  This upward trend is further fueled by the anticipation surrounding the approval of Bitcoin spot exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC). Bitcoin ETF Approval By January 10 In a recent post on X (formerly Twitter), Erich Balchunas, a Bloomberg ETF expert, shared his perspective on the probability of Bitcoin ETF approval. Balchunas maintains a 90% chance of SEC approval by January 10, which…

Grayscale Readies GBTC Conversion to Spot BTC ETF

“Today, Grayscale has outlined proposed amendments to GBTC’s Trust Agreement that are intended to provide operational efficiencies that we believe are beneficial to both Grayscale and GBTC,” a Grayscale spokeswoman said via email. “Importantly, this is in our normal course of business, and GBTC remains ready to uplist as a spot Bitcoin ETF to NYSE Arca upon appropriate regulatory approvals.” Source

Crypto markets remain steady despite Binance-DOJ settlement

The crypto market, led by Bitcoin and Ether, has shown resilience following the U.S. Department of Justice’s $4.3 billion settlement with Binance, amidst varied reactions across different crypto assets and exchanges. In a Nov. 27 development, the cryptocurrency market has shown resilience despite the U.S. Department of Justice’s (DOJ) settlement with Binance, one of the world’s leading crypto exchanges. The settlement, addressing allegations of money laundering, fraud, and sanctions violations, concluded with Binance agreeing to a $4.3 billion fine – a record in corporate settlements in the U.S. K33 Research…

CME Bitcoin futures show investors betting on $40K BTC price

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The demand for institutional investors for Bitcoin (BTC) became evident on Nov. 10 as the Chicago Mercantile Exchange (CME) Bitcoin futures flipped Binance’s BTC futures markets in terms of size. According to BTC derivatives metrics, those investors are showing strong confidence in Bitcoin’s potential to break above the $40,000 mark in the short term. CME Bitcoin futures open interest, USD. Source: Coinglass CME’s current Bitcoin futures open interest stands at $4.35 billion, the highest since November 2021 when Bitcoin hit its all-time high of $69,000–a clear indication of heightened interest,…

Binance will end support for BUSD stablecoin in December

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Major cryptocurrency exchange Binance announced it will cease support for all Binance USD (BUSD) products starting on Dec. 15 following Paxos halting the minting of new coins. In a Nov. 29 notice, Binance said users should withdraw or convert their existing BUSD on the exchange into other assets before Dec. 15. Starting Dec. 31, Binance will disable withdrawals for BUSD. At that point, existing balances will automatically be converted into First Digital USD (FDUSD) for certain users. In accordance with past communications, #Binance will cease support for BUSD products starting…