On February 6th, leading global exchange Binance announced that it would be delisting privacy-focused cryptocurrency, Monero (XMR). XMR is set to be dropped off the platform on February 20th, alongside Aragon (ANT), Multichain (MULTI), and Vai (VAI). The exchange explained broadly in the delisting announcement that — “When a coin or token no longer meets…
SVET Markets Weekly Update (February 5–9, 2024) Summary: During Week 6, major stock indexes reached ATH with the S&P 500 marking 14 consecutive weeks of gains, a 50-year unprecedented record. Commodities, including oil, gold, and coffee, were on the rise due to the developing Middle East situation. Crypto markets rebounded with major alts leading the…
In an unexpected end to the week, Bitcoin has sailed through its US$45,000 resistance -with market observers saying it has a free run to a new all time high within the next 12 months. Bitcoin hit $46,400 today – its highest price since December 2021. After 17 days of trading, the BlackRock iShares Bitcoin Trust…
Let’s understand what Two-Factor Authentication is and its role on Web3 Security. 2FA Explained Two-Factor Authentication (2FA) is a security process that requires two different forms of identification from the user to grant access to an online account or system. The idea behind 2FA is to add an extra layer of security beyond just a…
Hong Kong SAR’s government Financial Services department has highlighted a February 29th deadline for unlicensed Virtual Asset Service Providers (VASP) to make applications to register with the Hong Kong Securities and Futures Commission (“SFC”). If not, any unlicensed crypto entity in Hong Kong will have to cease operations by May 31st. In an official blog…
Bitcoin steady as the U.S. Federal Reserve opts to keep its benchmark fed funds rate range unchanged at 5.25% to 5.5% and ETFs continued to witness strong volume After two weeks of a slow downtrend following the approval of the Bitcoin Spot ETFs, Bitcoin staged a mini-recovery earlier this week reaching $43,707 on Wednesday –…
SVET Markets Weekly Update – Jan 29 — February 2, 2024 On Week 5, the Fed kept the rate unchanged at 5.5%, but hinted at no cuts in March. This didn’t stop the stock market from reaching ATH on all major indexes, with Meta showing a record 20% growth during one day. Simultaneously, manufacturing activity…
Bitget, the world's leading cryptocurrency exchange and Web3 company, has released a comprehensive study focusing on the upcoming Bitcoin halving in April 2024 and its impact on investment decisions The Bitcoin survey, conducted across a diverse global demographic, offers an outlook into crypto investors’ mindset and how they predict the market will change after the…
In 2023, the cryptocurrency industry faced many challenges but showed resilience, overcoming a brutal bear market that saw many of the last cycle’s big names such as Celsius, FTX, and 3AC bankrupted. The year marked a turnaround, setting the stage for a new era in leadership, regulation, and venture creation in 2024. Notably, the approval…
It’s an alarming thought, but in some cases, blockchain mining operations use enough energy to power entire cities. In fact, according to the White House, the total power usage for the cryptocurrency economy is around 180 billion kW hours per year, which is more than the electricity used by all of Australia in the same…