Persistent macro headwinds could delay Bitcoin bull market — ARK Invest

2023 has been a whipsaw year for investor sentiment and even though equities markets have defied expectations, a recent report from ARK Invest highlights reasons why the remainder of 2023 could present several economic challenges.  ARK manages $13.9 billion in assets, and its CEO, Cathie Wood, is a strong advocate for cryptocurrencies. In partnership with the European asset manager 21Shares, ARK Investment first applied for a Bitcoin exchange-traded fund (ETF) in June 2021. Their most recent request for a spot BTC ETF, which is currently pending review by the U.S.…

Crypto Twitter has a persistent ‘fake followers’ problem, data reveals

Despite changes introduced by Twitter management since Elon Musk’s takeover, the issue around fake followers remains a persistent problem. As many as 10% of the followers of accounts belonging to crypto influencers and companies are fake, new data from dappGambl has revealed. In April 2023, Musk introduced Twitter Blue — an $8 monthly subscription for verification — to increase the platform’s revenue while making it financially inviable for bots and fake accounts to operate. However, months later, dappGambl’s investigation found that up to 10% of followers from the most followed crypto…

Markets Should Prepare for Persistent Inflation and Continued Rate Hikes

Philadelphia Fed President Patrick Harker told CNBC that the decision on whether to tighten 50 or 75 basis points depends on the next inflation reading on Sept. 13. “I think we have to recognize that a 50 basis point move is still a substantial move, so whether it’s 50 or 75 I can’t say right now, but let’s not think that 50 isn’t a substantial move,” Harker said. Source

Yuga Labs warns of ‘persistent threat group’ targeting NFT holders

Bored Ape Yacht Club (BAYC) creator Yuga Labs has warned there may soon be a “coordinated attack” targeting multiple non-fungible token (NFT) communities. The NFT company told its Twitter followers on July 19 that its security team has been tracking a “persistent threat group” targeting the NFT community through compromised social media accounts, urging followers to be on the lookout. Our security team has been tracking a persistent threat group that targets the NFT community. We believe that they may soon be launching a coordinated attack targeting multiple communities via…

Terra’s LUNA2 skyrockets 70% in nine days despite persistent sell-off risks

The price of Terra (LUNA2) has recovered sharply nine days after falling to its historic lows of $1.62.  On June 27, LUNA2’s rate reached $2.77 per token, thus chalking up a 70% recovery when measured from the said low. Still, the token traded 77.35% lower than its record high of $12.24, set on May 30. LUNA2’s recovery mirrored similar retracement moves elsewhere in the crypto industry with top crypto assets Bitcoin (BTC) and Ether (ETH) rising by approximately 25% and 45% in the same period. LUNA2/USD four-hour price chart versus…

Lost SOL? Persistent challenges continue to impact Solana price

The past thirty days have been an extremely bearish time for cryptocurrencies. The sector’s aggregate market capitalization plunged 33% to $1.31 trillion and Solana’s (SOL) downfall has been even more brutal. Currently, SOL has seen a 50% correction and trades at $51. Solana/USD price at Coinbase (blue) vs. altcoin capitalization (orange). Source: TradingView The network aims to overcome the Ethereum blockchain’s scalability problem by incorporating a proof-of-history (PoH) mechanism into a proof-of-stake (PoS) blockchain. With PoH, Solana delegates a central node to determine a transaction time that the entire network…

Can Solana become the dominant PoS chain despite persistent outages?

Like most new-age networks, Solana was developed to resolve major issues confronting the blockchain industry. While the network has addressed some of these issues by its very nature. However, it has also encountered a few unique problems. From resource exhaustion to a halt in block confirmation, the Solana network has suffered a number of setbacks that resulted in repeated power outages, causing the network to shut down for hours on several occasions. The network went down on December 4, 2020, about three years after Solana was introduced, causing confusion in…

HM Land Registry leverages the Persistent digital mosaic to implement Blockchain in handling data

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io How does HM Land Registry in England and Wales manage more than 25,000,000 titles, with 20,000 changes being made every day? With technologies like smart contracts and blockchain. Persistent joined forces with Mishcon de Reya and other organizations to help the Land Registry transform the home buying process. Access all customer stories here: ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Figuring Out Who’s to Blame for DeFi’s Persistent Security Issues

The decentralized finance sector continues to gain unprecedented popularity as the total value of assets locked in DeFi products doubled to over $4 billion in July and is now approaching the $5 billion mark.  At the same time, an increased demand for such applications among users and developers makes it a target for bad actors, given the lure of direct access to funds. Over the past few months, hackers have stolen over $27 million from DeFi projects, and more attacks are expected to come in the near future. If this…