Day: April 3, 2024

Crypto Risk Products Unveiled by Relm Insurance

Relm, which also provides insurance to emerging industries like cannabis and psychedelics, has created a five-part offering for digital asset risks, such as cyber cover, crime coverage for holding crypto in hot wallets (connected to the internet), or covering investment managers of digital assets funds. In addition, there are more esoteric cover options like reimbursement for losses associated with staking Ethereum, where a participant can have their assets “slashed” for being offline, for example. Source

Ethena Labs’ New ENA Token Rallies Overnight

Bitcoin’s (BTC) steep rally has recently lost impetus. Still, the supply of stablecoins or dollar-pegged cryptocurrencies, often considered a powder keg that could be used to fund token purchases, continues to rise, a sign of reassuring stability to bitcoin bulls. Bitcoin hit record highs above $73,500 on March 14 and has since struggled to keep gains above $70,000, mainly due to the dwindling probability of a Fed rate cut in June. At press time, the leading cryptocurrency by market value was changing hands at $66,300, down 10% from its all-time…

Bitcoin ETF Outflows Are Ramping Up Again, What Does This Mean For BTC Price?

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Bitcoin ETF outflows are on the rise once again after a change in the tide last week. These outflows, given the ETFs’ correlation with the Bitcoin price, have a substantial impact on how well the cryptocurrency performs over time. So, as outflows are ramping up, will it trigger a crash in the BTC price? ARK Invest And Grayscale Lead Outflows While Grayscale’s Spot Bitcoin ETF has been the natural culprit for ETF outflows due to its high fees, another fund has joined the trend in a surprising turn of events.…

Hut 8 CEO forecasts decline in Bitcoin mining bankruptcies amid scale shift

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Hut 8 CEO predicts a decline in Bitcoin mining bankruptcies due to changes in financing dynamics and increased merger and acquisition activity among smaller-scale miners. The Bitcoin market is unlikely to see another cascade of bankruptcies anytime soon, as the whole crypto industry is now operating at a “different scale,” according to Hut 8 CEO Asher Genoot. In an interview with Bloomberg, the head of a Bitcoin mining company noted that the dynamics that exist today “are different than what happened in 2022,” adding that current crypto prices are “bailing…

Byte Federal Launches Point of Sale System for Merchants Seeking to Accept Bitcoin

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PRESS RELEASE. Byte Federal, a leading company in the global financial technologies space, is proud to announce the official launch of its point of sale (POS) system, ByteConnect. This product launch marks a significant expansion of Byte Federal’s “fintech focused” services, showcasing a commitment to building a full suite of financial tools for economic freedom. […] Original

Bitcoin gains bullish momentum amid declining open interest

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Bitcoin (BTC) has gained a slightly bullish momentum after its fall from the $70,000 mark. The small push comes as the BTC total open interest (OI) plunged by over $1 billion. BTC is up by 0.6% in the past 24 hours and is trading at $66,500 at the time of writing. The asset’s market cap surged to $1.3 trillion with a daily trading volume of $44 billion. BTC price, whale activity, open interest and RSI – April 3 | Source: Santiment According to data provided by Santiment, the total Bitcoin…

Shiba Inu Fires Up With 4,000% Burn

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Shiba Inu (SHIB), the popular dog-themed meme coin, is experiencing conflicting signals amidst the recent crypto market slump. While the burn rate, a metric indicating the rate at which tokens are permanently removed from circulation, skyrocketed by over 4,000% in the past 24 hours, the token’s price continues to decline. This surge in burning activity, primarily attributed to the destruction of over 154 million SHIB tokens, has ignited a spark of optimism within the SHIB community. The burning process aims to reduce the overall supply of SHIB, potentially leading to…

The First Universal Application Layer Powering Apps to Run on All Chains With One State – Blockchain News, Opinion, TV and Jobs

Singapore, Singapore, April 3rd, 2024, Chainwire Skate is backed by leading founders in web3, including EigenLayer, Polygon, Manta, Axelar, Pendle, A41 and Galxe, supporting its vision to make web3 efficient for a modular future by solving application fragmentation  Range Protocol, a unified liquidity provisioning platform, today announced the launch of Skate, the universal application layer that empowers apps to run on thousands of chains with one state.  Designed with an intent-centric approach, Skate aims to efficiently address the application fragmentations as a single hub for all code deployment across all…