Over the past 35 days, the total value locked in decentralized finance (defi) protocols has expanded by $11.89 billion, recovering from a low of just over $83 billion on April 13. Although it has not yet reached the $100 billion mark, the value locked in defi is approaching that milestone after hovering just below it. […] Source CryptoX Portal
AntPool, the second-largest Bitcoin (BTC) mining pool, mined seven consecutive blocks on May 17, sparking worries within the cryptocurrency community about network security. This series of blocks confirmed 20,686 transactions, resulting in over 23 BTC, valued at approximately $1.54 million in revenue. The mining spree occurred between block heights 843,898 and 843,904, lasting one hour and 38 minutes. Data sourced from mempool.space reveals that AntPool accrued 1.283 BTC in fees in addition to 21.875 BTC from the block subsidy. What adds intrigue to this development is the involvement of Foundry…
Genesis Global, the digital assets lender that went bankrupt last year, received court approval to pay billions in cash and crypto to creditors. According to Bloomberg, on May 17, Southern District of New York Judge Sean Lane confirmed Genesis’ Chapter 11 repayment plan, including a structure for returning crypto assets to creditors. This decision paves the way for Genesis to return customer assets locked on the platform since it paused withdrawals in November 2022. Bankrupt crypto lender Genesis won court approval of its plan to distribute billions of dollars in…
More crypto startups are raising seed rounds and pre-A funding. Below, we look at some of the main beneficiaries of last week’s venture capital (VC) activities. Humanity Protocol gets $30-million boost Humanity Protocol, a decentralized identity solution, has reached unicorn status with a $1 billion valuation. This milestone came after securing $30 million in a seed round led by Kingsway Capital. Other investors included Animoca Brands, Blockchain.com, Hashed, Shima Capital, and 20 more industry leaders. According to a Medium post by Humanity Protocol, the funds will be used to expand…
The cryptocurrency market has been on a hot streak in the past few days, with several large-cap assets posting significant gains in the past week. Most notably, the Bitcoin price bounced back from around $61,000 to above $67,000 for the first time in nearly a month. As expected, this latest price movement has sparked a lot of speculation and discussion around the premier cryptocurrency. Popular blockchain analytics firm CryptoQuant has shared on-chain insights into the recent Bitcoin price rally and its future trajectory. How Did Bitcoin Price Reach $67,000? In…
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The United States government’s recent actions against crypto giants like KuCoin and Binance have put it on notice and cast an ominous shadow over the industry. With regulators ramping up crypto enforcement in the North American market, startups and founders are looking overseas to find friendlier climates that will support the growth of their projects. When evaluating investments, user engagement, product expansion, and government acceptance, Asia is…
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The crypto market saw a strong recovery today following the CPI report that US inflation is now at 3.4%. Bitcoin pumped 7% to $66k on the news, while some altcoins, such as Fantom (FTM), rose by almost 30%. AI coins also reacted well to this news, with Near Protocol (NEAR), one of the leaders in the AI crypto sector, pumping 17% today. Meanwhile, some low-cap meme coins did well…
The market capitalization of meme coins increased by 8% and hit $58 billion. According to CoinGecko, meme coins are popular among investors and traders. The meme coin segment has outpaced the overall crypto asset market in growth over the past 24 hours. The crypto industry’s total market capitalization increased by 5.5%, while Bitcoin (BTC) showed an increase of 6%. The five largest meme coins by capital account for 77% of the total value of this asset class. At the same time, only three dozen coins by market capitalization exceed the…
Mastercard’s Start Path Blockchain and Digital Asset program has expanded to include five new startups, aiming to explore innovative uses of blockchain technology. “Digital assets are becoming increasingly mainstream, speeding up commerce with trust and transparency,” Mastercard stated. Mastercard’s Digital Asset Program Expands Payments giant Mastercard announced Wednesday that five startups from around the world […] Source CryptoX Portal
In the first quarter of 2024, Canaan Inc. generated $35.1 in revenues versus the $72.4 million in costs incurred in the same period which resulted in the company recording a gross loss of $37.3 million. Nangeng Zhang claimed that Canaan’s revenues in the last quarter exceeded expectations due to the company’s persistent sales efforts and […] Source CryptoX Portal