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Dimitar Dzhondzhorov



Articles by Dimitar Dzhondzhorov

Crypto Infrastructure Company Blockdaemon Raised $207M From Tiger Capital and SoftBank

23 hours ago

The blockchain infrastructure firm – Blockdaemon – raised $207 million in a Series C funding round led by Tiger Capital and Sapphire. Following the investment, the company increased its post-money valuation at $3.25 billion.
Blockdaemon’s Expansion
The California-based organization finished 2021 on a positive net income trend and recently hired 150 full-time employees – mainly engineers. It also expanded its scope to Germany and Singapore.
According to a recent press release, the company secured a multimillion funding round that included prominent investors like Tiger Capital, Sapphire, SoftBank Vision Fund 2, Matrix Capital Management, and StepStone Group. Mike Novogratz’s Galaxy Digital also joined the initiative.
As a result, Blockdaemon’s post-money valuation surged to

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Fireblocks Valued at $8 Billion Following a $550 Million Fundraiser

1 day ago

The leading cryptocurrency custodian – Fireblocks – closed a $550 million Series E venture capital round, co-led by Spark Capital, D1 Capital Partners, General Atlantic, Mammoth, and other investors. The financing boosted the company’s valuation to a whopping $8 billion.
The Newest Fundraise
Despite the ongoing correction in the cryptocurrency market, the New York-based blockchain platform – Fireblocks – continues to raise funds. According to a recent blog post, the firm’s latest investment turned it into the “highest-valued digital asset provider in the world.”
CEO Michael Shaulov said that Fireblocks intends to distribute the fresh capital in innovations for the DeFi sector, non-fungible tokens (NFTs), and payments:
“Everything that’s happening at the cross-section of

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Meta’s Cryptocurrency Project Diem Could Go for Sale (Report)

2 days ago

The Diem Association – a cryptocurrency initiative backed by Meta – is reportedly considering the sale of its assets to return capital to its investors. The project is also in discussions with investment bankers about how best to sell its intellectual property and help the developers find new places to work.
Diem Might Sell Its Assets
During its relatively short time of existence, Diem has sparked some controversy. Established in 2019 under the name Libra, it aimed at revolutionizing global monetary services by launching a stablecoin pegged to the American dollar. The project’s backer is Meta Platforms (formerly known as Facebook).
The initiative was a rather complicated one, and to have a better chance of success, Meta partnered with dozens of other companies. The

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Anthony Scaramucci on the Recent Bitcoin Price Decline: Take a Chill Pill, Stay Long

2 days ago

The Founder of SkyBridge Capital – Anthony Scaramucci – advised investors to cool off on their concerns regarding the most recent plunge in the cryptocurrency market. He believes bitcoin, as well as other digital assets, are the right investment tools for the long-term, and people should not abandon them because of their current price dips.
‘Stay Long’
The last several days were not pleasant for the cryptocurrency industry, as many assets lost a significant chunk of their USD value. Bitcoin, for example, dropped to below $33,000, losing over $10,000 in less than a week (its lowest level since July 2021).
By the looks of it, the shaky condition of the digital asset market is not a concern to Anthony Scaramucci. In a recent interview for CNBC, the 58-year-old American said

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Bitcoin’s Price Could Surpass $1 Million in the Next Decade, Says ARK Invest

2 days ago

A research team of the American investment management firm ARK Invest envisioned a highly optimistic future for bitcoin. According to them, the price of a single coin could surpass $1,000,000, and the asset’s market capitalization might reach $28.5 trillion by 2030.
Bitcoin to Peak at Over $1 Million
The Nasdaq-listed company ARK Invest, led by Catherine Wood, has been an advocate of the cryptocurrency industry for a while, especially bitcoin. In July last year, the organization purchased 450,000 additional shares of the Grayscale Bitcoin Trust in two days. As of now, the firm holds more than 6.5 million shares of GBTC.
In turn, Cathie Wood – has displayed a pro-bitcoin stance numerous times as well. At the end of last year, she came up with the bold prediction that the

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Indonesia’s Financial Regulator: Local Firms Are Not Allowed to Offer Crypto Services (Report)

3 days ago

The top monetary watchdog of Indonesia – the Financial Services Authority (OJK) – reportedly prohibited local companies from using, offering, or facilitating cryptocurrency services. The regulator believes dealing with bitcoin and the altcoins is risky due to their enhanced price fluctuations.
Crypto Is Under Crossfire in Indonesia
The authorities of the Asian country have displayed a hostile stance towards the cryptocurrency industry over the past several months. In November 2021, the National Ulema Council (MUI) opined that digital assets are riddled with “uncertainty, wagering, and harm.” As such, the organization urged that such investments should be declared “haram” – a term in the Islamic religion that means “forbidden.”
Last week, another organization – Tarjih

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The Beatles and John Lennon Memorabilia Listed for Sale as NFTs

3 days ago

The eldest son of John Lennon – Julian Lennon – is selling a range of music history of the Beatles and his dad’s memorabilia from his personal collection as non-fungible tokens (NFTs). To do so, he partnered with YellowHeart – a blockchain company that ensures the purchase of authentic digital tickets.
Furthermore, Lennon vowed to donate a portion of the proceed to The White Feather Foundation (TWFF) – an organization aiming to offset the carbon footprint.
The Beatles Step on The Digital Stage
Non-fungible tokens have emerged as one of the top trends in the cryptocurrency industry lately, as many celebrities, athletes, and musicians have launched their collections. Being unique assets that can be bought and sold like any other piece of property, NFTs have also attracted

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MicroStrategy CFO Confirms Buy and Hold Bitcoin Strategy Amid Market Turbulence

3 days ago

Phong Le – Chief Financial Officer of MicroStrategy – revealed that his firm will continue investing in bitcoin despite the recent plunge of the asset’s USD value.
In line with the prices of most crypto assets, the shares of the Nasdaq-listed company have also been on a downtrend since the beginning of 2022.
The Price Is Not an Issue for MicroStrategy
It is safe to say that the first 25 days of the year have not been kind to bitcoin. The cryptocurrency has lost more than 20% of its USD value during that period, which propelled skepticism in the space, and many started wondering whether and when its price would go up again.
The executives of the business intelligence software MicroStrategy, however, are not concerned. In a recent interview, the CFO of the company – Phong Le

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Crypto is Happening Despite the Crash, Says Former Goldman Sachs CEO

4 days ago

The former Chief Executive Officer of Goldman Sachs – Lloyd Blankfein – opined that the ecosystem surrounding cryptocurrencies has evolved in the past year. As such, he raised hopes that the digital asset industry is “happening” despite the recent price crash.
Optimism During The Crash
The American banker who served as Goldman Sachs’ CEO until 2018 has not always been kind to the cryptoverse. At the beginning of 2021, he questioned bitcoin’s ability to be a store of value due to its massive volatility. He also touched upon private keys, saying they are confusing as people could easily lose them.
During his most recent interview with CNBC, though, Blankfein was more supportive. He noted that 2021 had been a highly successful year, and bitcoin and the altcoins have attracted

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Polkadot Could Become FC Barcelona’s Official Jersey Sponsor

4 days ago

The Spanish soccer club FC Barcelona might team up with the blockchain protocol Polkadot. Assuming the two sides shake hands, the latter will become an official jersey sponsor of the team.
Polkadot Eyeing The Soccer World
The players of Football Club Barcelona currently wear the Rakuten logo on their jersey as the Japanese e-commerce firm is the official sponsor of the club. However, the partnership between the two entities is due in July this year, and the soccer team is seeking to ink a deal with a new organization.
According to a recent announcement, one of the options is Polkadot – a blockchain network, which was established in 2016 but gained more traction last year. FC Barcelona described the protocol as a platform that allows a “high number of transactions by

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North America’s Largest Bitcoin Miner Goes Public With a SPAC Merger (Report)

5 days ago

Investors of Core Scientific Inc. (a leading US bitcoin mining company) have reportedly approved a plan to get listed on Nasdaq. The firm started trading under the symbol CORZ.
Nasdaq’s Newest Member
According to a recent report by Bloomberg, the blockchain infrastructure provider – Core Scientific Inc. – will proceed through an estimated $4.3 billion merger with the special-purpose acquisition company Power & Digital Infrastructure Acquisition Corp. (ticker XPDI).
The latter’s price shares have been on a downtrend after peaking to an all-time high of nearly $15 in November 2021. Since then, it has lost approximately 32% of its valuation.
Speaking on the partnership was Mike Levitt – Co-Founder and CEO of Core Scientific Inc.:
“We’ve worked hard to lay the groundwork that

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The Pros and Cons of a CBDC, According to the Federal Reserve

5 days ago

The central bank of the United States – the Federal Reserve – released a discussion paper that examines the advantages and disadvantages of rolling out a potential US CBDC. This is the first conversation that the Fed has organized with the broad public to determine whether and how the digital version of the dollar could benefit the domestic financial system.
Pluses and Minuses
While numerous countries, with China leading the pack, are racing to issue their own central bank digital countries and implement them in their monetary network, the USA is in no rush. More than a year ago, Jerome Powell – Chairman of the Federal Reserve – assured that the world’s leading economy will first “carefully and thoughtfully” examine the matter before jumping into decisions.
In a recent

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Mercado Libre Made a Strategic Investment in Paxos and Mercado Bitcoin

6 days ago

The largest e-commerce firm in Latin America – Mercado Libre – acquired shares in the 2TM Group (a parent company of the cryptocurrency platform Mercado Bitcoin). Separately, it made a “strategic investment” in another digital asset-oriented organization Paxos.
Jumping into Crypto Once Again
The leading Argentinean e-commerce platform Mercado Libre, which has displayed a pro-crypto stance during the last several months, continues to support the industry. The company recently announced it allocated an undisclosed amount of its portfolio to 2TM (the holding company of Brazil’s largest digital asset exchange) and Paxos.
Mercado Libre expects this initiative to “stimulate the regional ecosystem, allowing it to offer increasingly relevant products and services to Latin American

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CNBC’s Jim Cramer Issued a Warning to Dogecoin Investors

7 days ago

The host of CNBC’s “Mad Money” – Jim Cramer – sounded a note of caution for investors regarding the popular memecoin Dogecoin. The American views it as a security that will soon get regulated.
‘Please Be Careful with Dogecoin’
The 66-year-old TV host often changes his stance on the crypto industry. Last year, he allocated some of his wealth into Bitcoin and Ether and even insisted on receiving his salary in the primary cryptocurrency.
A few months later, the Chinese crackdown caused a major price correction in the digital asset market, and Cramer sold almost all his BTC stash, leaving him exposure mainly to ETH. However, he admitted he is not a keen proponent of the second-largest cryptocurrency and vowed to sell his positions when the asset price increases.
In a recent

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Lucky ETH Miner Receives a Block Reward Worth $540K

7 days ago

An individual Ethereum miner who mined a complete block hit the jackpot by receiving 170 ETH for his efforts. Converted in USD value, the reward equals nearly $540,000 (calculated by the time when the block reward was mined).
Beating the Odds
Despite some people claiming that Ethereum mining (still being proof-of-work) is harmful to the environment, the process is still thriving, and even single individuals are constantly trying their luck to mine blocks on their own.
One such example defied the odds earlier this week and earned 170 ETH for mining an entire block. Calculated in today’s prices, the cryptocurrency amount totals approximately $480,000, while at the time of the mining, the USD value equaled $540,000. The reward significantly surpasses the per-block average

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Nexo Tapped Bakkt as its Cryptocurrency Custodian Partner

8 days ago

The cryptocurrency lending platform – Nexo – joined forces with the Nasdaq-listed digital asset company – Bakkt Holdings. As a result, the latter will custody a portion of Nexo’s Bitcoin and Ethereum holdings in the Bakkt Warehouse.
Bakkt’s Newest Partnership
The Bakkt Warehouse comprises both online (“warm”) and offline (“cold”) digital asset storage. The company balances between the two tiers to minimize risks associated with cryptocurrency custody services.
In a recent announcement, Nexo raised hopes that this model could bring an enhanced investment shield for its users. The “warm” and “cold” wallets are built on secure wallet architecture, along with multi-zone physical security, the entity informed. However, Nexo did not disclose what proportion of the customers’

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CryptoCom Says No Users Suffered a Loss Despite the $34 Million Stolen

8 days ago

The digital asset exchange – CryptoCom – came up with an official statement regarding the latest attack on its platform. The company revealed that the incident affected nearly 500 people, but they were fully refunded.
The Saga Had a Happy End
In its most recent report, CryptoCom disclosed that it first found out about the issue in the early hours on Monday (January 17). The monitoring systems of the trading venue detected unauthorized activity on a small number of user accounts where transactions were approved without the necessary 2FA authentication, the announcement reads.
Consequently, the team suspended withdrawals of all tokens and initiated an investigation. As CryptoPotato reported a few days ago, the firm also addressed the community about the attack.
In the

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Russia’s Central Bank Reportedly Proposes a Total Crypto Ban

8 days ago

The central banking institution of the largest country by landmass – the Bank of Russia – urged the local government to impose a blanket ban on all cryptocurrency endeavors on Russian territory. It argued that digital assets remind of a pyramid scheme, undermine the sovereignty of monetary policy, and threaten the local financial network.
Russia Calls for a Crypto Ban
Many Russian authorities do not classify as the most crypto-friendly politicians since they have repeatedly opined against the asset class.
Some notable examples include Elvira Nabiullina – the Chief of Bank of Russia – who stated last year that investing in digital assets is more dangerous than any other strategy. Deputy Governor Sergey Shvetsov went even further, saying dealing with bitcoin is so risky that

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ESMA Top Executive: The EU Should Ban Proof-of-Work Mining

9 days ago

The vice-chair of the European Securities and Markets Authority (ESMA) – Erik Thedéen – urged the EU financial regulators to prohibit the cryptocurrency mining model known as proof-of-work. He also claimed that bitcoin has turned into a “national issue” for his homeland Sweden because of the amount of renewable energy devoted to mining the asset.
‘The Solution Is to Ban Proof-of-Work’
In a recent interview for the Financial Times, Erik Thedéen (also Director-General of Sweden’s FCA) opined that cryptocurrencies employing the proof-of-work mining methodology pose significant risks to the environment. As such, European regulators should encourage the proof-of-stake model, which is less energy-intensive:
“We need to have a discussion about shifting the industry to a more

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Morocco’s Biggest Bank to Dive in Crypto by Joining RippleNet (Report)

9 days ago

The leading banking service operator in Morocco – Attijariwafa Bank – has reportedly joined RippleNet. The latter is an international cross-border payment network designed by the American blockchain company Ripple.
A local report revealed that Attijariwafa Bank had become a member of the RippleNet ecosystem. By joining the crypto world, the Moroccan financial institution has strengthened its position as an innovative banking leader in the North African region.
As a result, members of Attijariwafa Bank will be able to exchange transactions with each other from numerous destinations around the world. The Moroccan diaspora consists of nearly 5 million people, as over 1 million reside in France.
Adnane Driouech – Corporate Cash Management Manager at the bank – said his company

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Crypto Could Contribute to BNY Mellon’s Revenue in 2023, Says CEO

9 days ago

According to BNY Mellon’s Chief Executive Officer – Emily Portney – digital assets could create a significant source of revenue starting from next year for the financial institution.
America’s Oldest Bank Sees Crypto’s Potential
The Bank of New York, established in 1784 and operating today as BNY Mellon, is the oldest continuously functioning bank in the past year or so.
In a recent interview, Chief Executive Officer Emily Portney reaffirmed that position. She predicted that bitcoin and the alternative coins could contribute substantially to BNY Mellon’s revenue in 2023.
America’s oldest bank teamed up with Fireblocks in its cryptocurrency endeavors. The latter is a unicorn fintech platform that provides digital asset custody services to some of the largest crypto

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VC Firm Blossom Capital Raises $432M to Invest in the Cryptocurrency Ecosystem

10 days ago

The London-based venture capital company Blossom Capital raised $432 million to invest in early-stage tech startups in Europe. The firm has reserved a third of the proceeds for investments in the cryptocurrency industry.
Blossom Capital Eyes the Crypto Universe
The cryptocurrency initiative, which the British organization launched, does not come as a surprise since its Founder – Ophelia Brown – personally bought bitcoin ten years ago:
“I’ve personally been active in this space since buying my first Bitcoin in 2012. So we’ve kind of debated every year now, when is the right time to keep increasing the exposure and make it core to the fund.”
She also revealed that her company’s strategy includes not only investing in digital assets but also “eyeing equity stakes in

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Malaysia to Explore the Potential Launch of a CBDC (Report)

10 days ago

Bank Negara Malaysia (the central banking institution of the nation) has reportedly joined the global race to develop a digital version of its national currency. As of the moment, the project is still in a research mode as the county is only “assessing the value proposition” of such a financial product.
Malaysia Enters the CBDC League
Launching a central bank digital currency has been a target for many countries recently. While China’s efforts are by far the most advanced globally, other nations such as Mexico, Indonesia, and Nigeria have also started exploring the initiative.
According to a recent Bloomberg coverage, Malaysia is the newest state dipping its toes. Despite not making any final decisions, the Asian country has started researching how a central bank digital

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The Cardano Foundation Partners with EMURGO to Develop New dApps

10 days ago

The Cardano Foundation teamed up with its official commercial arm – EMURGO – to launch a joint project. The main goal is to support the ecosystem of the blockchain protocol and accelerate decentralized application development.
‘We Want to Ensure We Enable The Architects of The Future’
According to a recent blog post, the project will consist of a Minimum Viable Product 1 and Minimum Viable Product 2. MVP1 will be composed of a modular tool stack built by Five Binaries (an infrastructure development firm active in the Cardano ecosystem).
The first stage will include the initial release of the Chain Watcher as well as a backend that will act as a proof-of-concept. Five Binaries will also develop blockchain adapters – plug-in components used to bridge Cardano blockchain data

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OlympusDAO Establishes OHM as a Liquid Asset within the Balancer Ecosystem

10 days ago

The decentralized finance protocol OlympusDAO collaborated with Balancer to set up OHM as a liquid asset within the latter’s network. CopperLaunch and PrimeDAO will facilitate the front end of the Liquidity Bootstrapping Pools (LBPs) by adding OHM as a collateral token.
The Specifics of The Project
According to a document seen by CryptoPotato, the decentralized reserve currency protocol – OlympusDAO – will initially deploy $50 million of liquidity to Balancer Protocol. The structure of the initiative focuses on the access point to OHM via DAI and WETH (wrapped ETH), while lowering the price impact is the primary goal of the collaboration. As such, it was determined that an OHM/ETH/DAI – 50/25/25 Pool would be the best option to present to the Olympus community.
The maximum

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Thailand’s Former SEC Chief Opposes Possible Crypto Taxation: Report

11 days ago

Tipsuda Thavaramara – former Deputy Secretary-General of Thailand’s Securities and Exchange Commission (SEC) – disagreed with the government’s intentions to impose a 15% capital gains tax on cryptocurrency profits. She believes such legislation is unpractical, unfair, and not beneficial for the trade sector.
The Bill Lacks Clarity
Earlier this month, the Thai authorities presented plans to slam local cryptocurrency investors and miners with a 15% capital gains tax. According to the legislation, digital asset exchanges would be exempt from the potential regulations. Nonetheless, the lawmakers did not elaborate, making some individuals doubt the use-cases.
One of them is Tipsuda Thavaramara – a former top executive at Thailand’s SEC. In her view, the possible crypto taxation

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CryptoCom Becomes Financial Backer of the Australian Football League and the AFLW

11 days ago

The digital asset platform CryptoCom inked a five-year collaboration with the AFL to become a financial backer of the Toyota AFL Premiership Season and the NAB AFL Women’s championship. The trading venue will also feature as the exclusive naming rights partner of the tournaments and the Final Series matches.
CryptoCom Expands in Australia
According to a document seen by CryptoPotato, the AFL became the first Australian sports league to partner with CryptoCom. At the same time, the AFLW is the first elite women’s sports competition, which the platform has sponsored worldwide.
According to recent estimations, Australian female investors are much more engaged in the cryptocurrency space compared to other countries. Karl Mohan – CryptoCom General Manager for the region of Asia

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Binance to Establish a Crypto Exchange in Thailand (Report)

11 days ago

The world’s leading digital asset platform – Binance – has reportedly collaborated with the Gulf Energy Development PCL – owned by the Thai billionaire Sarath Ratanavadi. The main goal is to set up a cryptocurrency exchange in the Southeast Asian state.
Establishing a Crypto Platform in Thailand
Thailand has recently positioned itself in the spotlight of the cryptocurrency industry as locals have started embracing the asset class. At the same time, numerous experts opined that jumping into the world of crypto could be highly beneficial for the country, which economy struggles significantly after the COVID-19 pandemic.
One such individual is Jirayut Srupsrisopa – Founder and CEO of the cryptocurrency exchange Bitkub. Not long ago, he urged Thailand’s authorities to open

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Singapore Urges Local Crypto Companies to Refrain From Promoting Digital Assets: Report

11 days ago

The city-state’s central bank – the Monetary Authority of Singapore (MAS) – reportedly issued guidelines that limit crypto trading service providers from promoting such assets. The financial institution believes dealing with digital assets is highly risky and unsuitable for every investor.
In addition, Australia’s top financial watchdog – the Australian Securities and Investments Commission (ASIC) – advised locals to restrain from investing retirement savings into bitcoin and the alternative coins.
Strict Rules for Advertising Crypto Services in Singapore
Singapore is known as one of the Asian cryptocurrency hubs as it has a comprehensive regulatory framework for dealing with such assets and a friendly ecosystem.
Those features have attracted a considerable chunk of the

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NFTs and Blockchain-Based Games on the Rise Despite the Recent Crypto Decline (Report)

12 days ago

The non-fungible token universe and blockchain-based games seem to have their own macro events that affect their growth. A set of reports by the analysis company DappRadar revealed that the number of NFT trades continues to increase gradually despite the adverse price movements in the digital asset industry. Additionally, the interest in blockchain-based games is also on the rise.
NFTs and Blockchain Games Becoming More Popular
Most cryptocurrencies have lost some price ground during the last couple of months. Bitcoin, for example, has retreated by nearly 40% (at the time of writing this article) from its $69,000 record, registered in November last year.
A recent date from DappRadar, though, outlined that the adverse situation in the digital asset market has not harmed

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