Valentina Matvienko, Chairman of the Russian Federation Council, talked about the role of national digital currencies, also known as CBDCs, in increasing the use of national currencies in BRICS trade. Matvienko stated that a hypothetical BRICS bridge, a joint payment system, would leverage the digital currencies of all the bloc states. Russian Senate Chairman Profiles […] Source CryptoX Portal
A closely followed on-chain analyst says billions of dollars worth of Bitcoin (BTC) were sent to digital asset exchanges in the last 30 days. Analyst Ali Martinez tells his 67,000 followers on the social media platform X that Bitcoin holders moved tens of thousands of BTC to crypto exchanges last month where they could potentially be sold on the open market. “Over the past month, 58,956 BTC, valued at approximately $3.54 billion, were transferred to crypto exchanges!” Source: Ali Martinez/X The trader’s chart appears to suggest that traders began sending…
According to Shopinbit, a European online retailer that accepts cryptocurrency for transactions, monero (XMR) was the favored payment method in June. Shopinbit reported that XMR accounted for over 74% of all payments during that period. European Retailer Shopinbit Sees Monero Payments Skyrocket in June The European online retailer, which offers over a million products, shared […] Source CryptoX Portal
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: President Nayib Bukele starts combating price gouging practices in El Salvador a la Chavez, Paraguay enacts penalties of up to 10 years of jail time for power theft linked to crypto mining activities, […] Source CryptoX Portal
Since July 1, the average transaction fee on the Bitcoin blockchain has remained below $2, with current onchain fees at 15.5 satoshis per virtual byte (sat/vB), translating to $1.54 per transfer. Bitcoin Fees Hit 10-Month Low Onchain Bitcoin fees have fallen to levels not seen since October 2023, spanning more than 250 days. Over the […] Original
Crypto exchange Abra is reportedly purchasing a number of funds from digital asset management firm Valkyrie Investments after settling with US state regulators. According to a new report by Bloomberg, Abra has bought several trusts from Valkyrie after settling up with 25 regulators. Marissa Kim, Abra’s head of asset management, tells Bloomberg that the deal included Valkyrie’s Tron and Zilliqa trusts, which have collectively sold about $71 million worth of assets to investors. Also included in the deal are Valkyrie funds that have not yet rolled out. As stated by…
A project called Usual Money has officially unveiled its public mainnet, launching the usual usd (USD0) stablecoin. This initiative seeks to provide a decentralized alternative to traditional fiat-backed stablecoins. Usual Money Debuts USD0 Stablecoin and USD0++ Liquid Bond According to the project’s team, usual usd (USD0) is a stablecoin supported by real-world assets (RWAs), crafted […] Source CryptoX Portal
Ethereum has shown some degree of resilience in the face of heavy volatility in the broader crypto landscape, keeping ground above the $3,000 barrier in a week when Bitcoin stumbled under the weight of German economic policies. Related Reading Ether hodlers are keenly observing as the terrain of digital currencies undergoes notable changes; many of them are focusing on a possible $5,000 milestone. A Test Of The Market There were tremors felt in the cryptocurrency market when the German government decided to sell about 5,000 BTC, or 90% of its…
The non-fungible token, or NFT, market saw a 7.68% boost in sales volume this week, hitting $109 million, with notable activity on Ethereum (ETH) and Polygon (MATIC) blockchains. However, this uptick came against a backdrop of massively declining numbers of NFT buyers and sellers, which plunged by 68.00% and 67.78%, respectively. Interestingly, even as the number of market participants went down, NFT transactions witnessed a substantial increase, skyrocketing by nearly 21% to reach 2,435,539 trades, according to data from CryptoSlam. Here’s a comprehensive look at the key events and trends…
Institutional liquidity providers, market makers, and over-the-counter (OTC) trading desks, regardless of the term you choose, have taken in most of Germany’s bitcoin since sales began in June 2024. Data reveals that only a small amount of BTC was moved to centralized crypto exchanges like Coinbase, Kraken, and Bitstamp. Institutional Players Absorb Bulk of Germany’s […] Original