Category: Blockchain

Federal Reserve’s Plans to Hike Interest Rates Spooks Traders into Selling Crypto – Blockchain News, Opinion, TV and Jobs

Bitcoin is crashing again, temporarily plunging it to below $20,200 earlier today, as spooked traders have frantically been selling off the cryptocurrency before the US Federal Reserve is expected to do something it hasn’t done in 28 years — increase interest rates by three-quarters of a percentage point. In response to soaring inflation and volatile financial markets, the central bank will hike the rate that banks charge each other for overnight borrowing to a range of 1.5%-1.75%. BTC and ETH has fallen to trade just above $20,000 and $1,000, respectively, as…

Asset Manager AllianceBernstein to Add Blockchain Technology in Deal With Allfunds Unit

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ICI Bucharest to use Elrond blockchain to develop decentralized domains and an institutional NFT marketplace

On Tuesday, Romania’s National Institute for Research and Development In Informatics, also known as ICI Bucharest (ICI), announced that it would be building an institutional nonfungible tokens, or NFTs, marketplace and a decentralized Domain Name System. Both services will be built on the Elrond (EGLD) blockchain, which is known for its ability to speed up transactions via sharding. ICI was founded in 1970 and is currently the most institution for government-sponsored research in the field of information technology in Romania. It currently supervises the Romanian National Register for Domain Names. …

Celsius Faces Liquidity Crisis, but how are Other Crypto Firms Faring? – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock Global markets took a catastrophic hit yesterday, as the Nasdaq was down 4.60% and the S&P 500 was down 3.88%. Crypto suffered the most, as Bitcoin dropped over 20% to reach a low of $20,800. Ever since the crypto rally in November, in response to Bitcoin ETF Futures product being launched, crypto has been on a ruthless downtrend with little sign of relief. Bitcoin has correlated with the Nasdaq very tightly this year, and actually performed better up until May. When…

Tether Tokens (USDt) to Launch on Tezos – Blockchain News, Opinion, TV and Jobs

Tether Operations Limited (“Tether”), the company operating the blockchain-enabled platform tether.to that powers the largest stablecoin by market capitalization, will launch Tether tokens (“USDt”) on Tezos, a pioneering upgradable Proof-of-Stake blockchain. The addition of USDt to Tezos demonstrates its growing momentum as a thriving Proof-of-Stake blockchain which continues to build a reputation as the leading choice for brands and institutions looking to build the Web3 revolution.   Tether’s USDt, now available on 12 blockchain networks, welcomes the Tezos ecosystem to the US $80 billion network. USDt on Tezos will power revolutionary…

Celsius’ Woes and Rampant Inflation Prompts Extreme Fear – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock The total crypto market cap has dropped below $1 trillion for the first time since January 2021. After the weekend started at $1.16 trillion, the value of all cryptocurrencies reached a low of $940 billion this morning, as Bitcoin plummeted below $24,000. How has this all happened? Many think it is mainly due to fear surrounding the insolvency risk of one of the biggest lending platforms Celsius, after it has been widely speculated that they have been irresponsible with client funds.…

Can the Optimism blockchain win the battle of the rollups?

Ethereum is plagued with criticisms of its less than optimal scaling capabilities and high gas prices. There have been talks about increasing the scaling capacity of the Ethereum mainnet for a while now.  However, the Ethereum ecosystem needs a solution for scaling right now, and if Ethereum is not able to give these new applications a platform with enough scaling capabilities, they can seek alternatives like the BNB Chain or Cardano. Optimism rollout was created to solve exactly the scalability problem of Ethereum. Optimism Rollup network is one of the…

DeFi pulls the curtain on financial magic, says EU Blockchain Observatory expert

As decentralized finance continues its victorious march — although the road is sometimes bumpy — some significant questions on its nature remain. How can DeFi applications be protected from becoming nonoperational under extreme stress? Is it really decentralized if some individuals have way more governance tokens than others? Does the anonymous culture compromise its transparency? A recent report from the EU Blockchain Observatory and Forum elaborates on these questions and many others around DeFi. It contains eight sections and covers a range of topics, from the fundamental definition of DeFi…

Drosey’s Web5 to Merge Web3 and Web 2.0, Built on Bitcoin Blockchain

Web5 is a combination of Web3, and Web 2.0 built on the Bitcoin blockchain, former Twitter CEO Jack Dorsey announced through Twitter. Published on his Twitter recently, Dorsey said that the new platform will aim at fixing the issue of securing personal data. “We struggle to secure personal data with hundreds of accounts and passwords we can’t remember. On the web today, identity and personal data have become the property of third parties,” the company said on its website. Web5 is developed by one of the Bitcoin business units at Dorsey’s…

What Does Today’s US Inflation Data Mean for Crypto Markets? – Blockchain News, Opinion, TV and Jobs

Bitcoin has continued to hover around $30,000 for the last few days, but is dropping to $29.449,32 at this time of writing, after the market received the U.S. CPI inflation data that were released today at 1.30pm GMT. This event was key, to give us a better understanding of whether inflation had already peaked or is only beginning to peak, which is what is needed for the Federal Reserve to loosen monetary policy and hence result in upside for markets, or not. Economist Mohamed El-Erian, who accurately forecasted almost a…