Digital assets prices saw their biggest selloff since the 2022 FTX implosion earlier this week, mostly driven by contagion in traditional markets, with bitcoin falling more than 15% before rebounding somewhat, the bank’s analysts wrote. The selloff in crypto was mostly driven by retail investors, while momentum traders also contributed by exiting their long positions and building shorts, the bank said. Source
Under the order, the bank has to soon provide the Fed a series of written plans and a new approach to compliance, including an agreement to “ensure that the Bank collects, analyzes, and retains complete and accurate information for all customers.” The bank must notify the Fed 30 days in advance of taking on “any new strategic initiative, product, service, or relationship with third parties related to the digital asset strategy.” Source
Stellar (XLM) flexes its muscles as it rose in price today, August 8th, going against the slowing market rebound that occurred after the market’s dip that happened earlier this week. According to CoinGecko, XLM shifted upwards by almost 10% gaining in an environment where the majority of altcoins are still experiencing pain. Related Reading The Stellar network’s current bullishness can be largely attributed to recent developments that show the platform’s commitment to bringing crypto within reach of the average Joe. Decaf On Stellar This week, users on Stellar are rejoicing…
The crypto economy experienced a 5.6% boost over the past 24 hours, reaching $2.07 trillion by Thursday. Bitcoin has soared past the $59,800 mark, while ethereum has exceeded $2,500 per coin. This rapid climb on Aug. 8 resulted in $212.59 million in derivatives liquidations across the entire crypto market within the last day. Crypto Economy […] Original
Nasdaq and BlackRock, the world’s largest asset manager, are planning to start trading options on the spot Ethereum ETF. According to a filing posted on the U.S. Securities and Exchange Commission’s website, representatives of Nasdaq and BlackRock asked the regulator to allow trading options on the iShares Ethereum Trust ETF (ETHA), the only Ethereum-based ETF listed on the Nasdaq exchange. The published document proposes changing the rules for listing and trading options on the iShares Ethereum Trust. The exchange offers to expand the list of ETFs suitable for trading on the exchange in…
Caroline Bishop Aug 08, 2024 16:31 Mysten Labs’ Chief Scientist, George Danezis, explains the development and impact of the Mysticeti consensus engine on the Sui blockchain. Mysten Labs’ Chief Scientist, George Danezis, has shed light on the development of the Mysticeti consensus engine, which is currently undergoing a phased rollout on the Sui Mainnet. According to The Sui Blog, this new technology aims to enhance the performance and capabilities of the Sui blockchain. Innovations Behind Mysticeti Mysticeti is designed to significantly reduce…
Following the Bitcoin price crash below $60,000, hopes for the BTC price to reach a new all-time high, at least for the short-term, seem to have been shattered. However, over the long term, analysts still expect that the Bitcoin price will still rebound from here. One of those who believe that the BTC price will still reach a new all-time high is CryptoQuant CEO Ki Young, but there is a caveat to this rally. Bitcoin Price Must Hold $45,000 In an X (formerly Twitter) post, CryptoQuant CEO Ki Young revealed…
Timothy Morano Aug 08, 2024 15:58 Circle and Blockchain at Berkeley introduce TXT2TXN, an AI-driven tool using Large Language Models to simplify blockchain transactions through intent-based applications. Circle and Blockchain at Berkeley have unveiled TXT2TXN, an innovative open-source web application that leverages Large Language Models (LLMs) to streamline blockchain transactions by interpreting user intents from natural language inputs, according to circle.com. Introduction to TXT2TXN TXT2TXN, which stands for text-to-transaction, aims to simplify the user experience in crypto applications by using AI to…
Despite bitcoin dipping more than 14% over the past week, insights from cryptoquant.com and the company’s founder and CEO, Ki Young Ju, reveal an intriguing trend: a large volume of bitcoin has been transferred to long-term holder addresses over the last 30 days. These recent statistics suggest that some investors are seizing the current price […] Original
Franklin Templeton, a $1.66 trillion asset manager, has announced the launch of its money market fund on Arbitrum. The Wall Street giant said in a press release that the Franklin OnChain U.S. Government Money Fund FOBXX is now available to investors on Arbitrum (ARB), an Ethereum (ETH) Layer 2 blockchain. With this launch, FOBXX expanded to three blockchain platforms, after already available on Stellar (XLM) and Polygon (MATIC). Expansion a key step for Franklin Templeton Franklin Templeton and the Arbitrum Foundation are collaborating to bring the tokenized fund to investors…