Bitcoin (BTC) and other cryptocurrencies have taken a hit in the wake of recent news regarding Binance, the world’s largest cryptocurrency exchange by trading volume. The market has reacted with concern to the disclosure of a complaint against the exchange, which has sparked a wider downtrend throughout the cryptocurrency industry. As of this writing, Bitcoin…
The Bitcoin Ordinals protocol developers have introduced a new upgrade to rectify over 71,000 invalid inscriptions previously untradeable. These inscriptions often result from incorrect usage and were rendered useless and untradeable until now. However, with this recent development, developers have taken the first step toward addressing this long-standing problem. Developers Unleased the New Ordinals Protocol…
A curated weekly summary of forward-focused crypto news that matters. This week, huge taxes for Bitcoin miners dropped as part of the debt ceiling deal, CBDCs remain wildly unpopular with most Americans, and a new report from Glassnode reveals the uncanny ability of many first-time Bitcoin buyers to sell at the bottom of a cycle.…
Celsius, a popular lending platform, has made significant moves in staking Ethereum (ETH) as they stake almost $1 billion worth of the cryptocurrency. According to the Blockchain intelligence company Arkham Intel, In the past 24 hours alone, Celsius has staked over $600 million worth of ETH, with no signs of slowing down. This represents a…
In his latest report titled “Crypto Outlook, June 2023,” Bloomberg’s Senior Macro Strategist, Mike McGlone, predicts more pain ahead for Bitcoin (BTC) and the broader cryptocurrency market. McGlone argues that despite a rebound in prices in 2023, the risks for the Bloomberg Galaxy Crypto Index remain tilted downward. Is Bitcoin Doomed? According to McGlone, cryptocurrencies…
Justin Sun, the founder of the Tron blockchain, has announced that the Tron network’s native asset, TRX, can now be fully accessed on Ethereum (ETH), the largest altcoin network in the cryptocurrency industry. This has been made possible through the BitTorrent Bridge, which allows for seamless interoperability between the two blockchains. BitTorrent Bridge Paves The…
Cryptocurrency exchange Gate.io has recently been facing rumors of insolvency following the arrest of Multichain CEO Zhaojun and concerns about the Multichain treasury being backed by 30%. These rumors have led to increased withdrawals from the exchange, with a net outflow of $131 million in the last 24 hours alone. To put this into perspective,…
Bitcoin (BTC) has been on a rollercoaster ride for weeks. However, the largest cryptocurrency in the market seems poised to breach the $30,000 mark again if it continues its bullish momentum. Nevertheless, cryptocurrency experts are eyeing a key technical price level that could signal further volatility for the world’s most popular cryptocurrency. According to crypto…
In a significant development for the Ethereum network, average transaction fees have witnessed a sharp decline. This plunge comes shortly after the Ethereum network recorded a significant spike in fees in May driving it to a yearly high. According to the latest data from the popular market intelligence platform Santiment, Ethereum fees have now settled…