Crypto news

Meitu (1357), the pioneering Hong Kong-listed company known for its ventures into cryptocurrencies, has recently announced a strategic shift away from digital assets like Bitcoin and Ethereum. The company, which made headlines in 2021 for investing around $100 million in cryptocurrencies, has revealed that its growth is now driven primarily by its artificial intelligence (AI) business. Meitu Credits Subscription System for Fiscal Success Kang Yicong, senior investor relations...

Newbie developers are increasingly departing a crypto project while more “established” ones (more than two years) and those categorized as “emerging” (who have been working for one to two years) have remained relatively resilient over the past year. A new study by Electric Capital shows that Ripple is one of the few projects that witnessed an increase in its developer counts as of October. The XRP ecosystem recorded more than 18% YoY growth and currently has 172 monthly...

In 2023, the Ethereum blockchain witnessed intriguing transformations in the way users and entities engage. According to Nansen’s recent report, there has been a remarkable surge, with more than 300,000 daily active Ethereum addresses. Among these active addresses, DeFi entities have maintained their position as the dominant players. As of October 12th, 2023, DeFi users alone outnumbered NFT and layer 2 scaling users by more than twice, solidifying the sector’s central role...

HTX, formerly Huobi, has released its Q3 2023 financial report, revealing a robust revenue of $24.75 million. The cryptocurrency exchange has allocated 20% of this earnings for its quarterly token burn, amounting to approximately two million HT coins. This strategic move is poised to have significant implications for the HT ecosystem, enhancing transparency and community engagement. HTX Achieves Milestone with Tokens Burned In the third quarter of 2023, HTX executed a...

TL’DR BlackRock CEO Larry Fink praises the Bitcoin network, citing pent-up interest in crypto and a flight to quality as drivers of the recent rally. Confidence in SEC approval of a Bitcoin ETF is growing, reinforcing Bitcoin’s quality and mainstream adoption, as evidenced by increased stablecoin flows into Bitcoin. The ongoing trial of Sam Bankman-Fried highlights the narrative that decentralized cryptocurrencies like Bitcoin are more reliable and of higher quality, leading...

A recurring motif during the trial has been Bankman-Fried’s commitment to effective altruism, a philanthropic ideology aimed at maximizing individuals’ impact through activities like charitable contributions and career choices. Bankman-Fried, who is currently on trial for defrauding investors of billions of dollars, aligned himself with fellow proponents of this philosophy, including Nishad Singh, the head of engineering, and Caroline Ellison, who was not only his former...

While maintaining the $30,000 mark is proving challenging for Bitcoin, there appears to be a noteworthy surge in bullish sentiment. It can be attributed in part to the increased optimism of investors regarding the potential approval of a spot Bitcoin ETF in the US. A potential approval can push Bitcoin between $42,000 and $56,000, according to a new report. Bitcoin’s Ascent to $56,000 So far, the US Securities and Exchange Commission (SEC) has declined to grant approval for a...

Solana had a strong association with FTX, and the latter’s collapse last year had significant repercussions for the SOL token. However, the seventh-largest crypto-asset has pursued a strong recovery this year. According to Nansen’s latest analysis, SOL has been trending positively since the summer. In fact, the SOL vs ETH ratio was found to have been breaking higher, nearing highs not seen all year. Since the collapse of FTX, SOL has declined more than ETH, meaning ETH has...

Gabbani, a hotel company based in Lugano, Switzerland, has unveiled an initiative to mine Bitcoin using excess energy from its food production facility. The new project is set to solidify Lugano’s status as the leading European blockchain hub. According to an official announcement by stablecoin issuing company Tether, Gabbani will install a Bitcoin mining system in its food production facility to harness excess energy as electricity costs in Europe continue to rise. Food...

Bitcoin’s price continues charting gains, and it seems that the weekend has caught bears unprepared. At the time of this writing, BTC is up 2.1% on the day, trading at above $30K – an important psychological and resistance level. It’s worth noting that it’s not the first time this week that Bitcoin has tried to overcome $30K. On October 16th, prompted by false reports of an approved spot Bitcoin ETF, the BTC price shot up to around $30K on Binance. As soon as the reports were...