Crypto news

The past 24 hours saw the majority of altcoins crash by a considerable margin and there are no signs of slowing down. However, there’s also a clear discrepancy between the price performance of certain altcoins to that of Bitcoin and Ethereum, both of which have remained relatively resilient. Bitcoin Dominance Soars Over the past 24 hours, Bitcoin’s dominance increased to around 46% (data from CoinGecko). This is a major difference. The metric tracks Bitcoin’s share relative...

The altcoin market is under fire. Major cryptocurrencies like Solana (SOL), Polygon (MATIC), Cardano (ADA), and many others – are plummeting in value. The heatmap below is pretty indicative of the troubles that the market is going through. It also reveals that investors are anything but confident right now. Source: Coin360While it’s anyone’s guess why exactly that might be, two things happened in the past few days that might provide some sort of an explanation. SEC Names 13...

Cardano is taking a massive beating throughout the past few days. The cryptocurrency is down a whopping 23% in the last 24 hours alone. The majority of the altcoins are also trading well in the red, triggering liquidations of close to $400 million. Cardano (ADA) and a bunch of other altcoins are plummeting today. ADA alone is down 23% in the past day as investors fear a potential clash with the SEC. Data from Coinglass shows that the entire market’s liquidations have ramped...

Following lawsuits against Binance and Coinbase, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has made his intentions clear about the digital assets class. These are securities, nothing less, he asserted in a recent interaction. They should be registered with the agency before being offered to investors or meet the requirements to seek exemptions, a CNBC report quoted him. He added that exchanges listing cryptocurrencies must also register themselves...

After over a decade, the Department of Justice (DOJ) has tracked down and charged the hackers who stole hundreds of thousands of Bitcoin from the defunct crypto exchange giant Mt. Gox.  The primary criminals identified are Russian nationals Alexey Bilyuchenko (43) and Aleksandr Verner (29). Mt Gox Hackers Found As stated by the DOJ in a press release on Friday, both Bilyuchenko and Verner are charged with “conspiring to launder approximately 647,000 bitcoins from their hack...

Seychelles-based cryptocurrency exchange OKX has implemented the 20th round of its Buy-Back and Burn program, burning nearly 5.5 million OKB tokens this time. According to a blog post, the total number of OKB tokens bought back from the secondary market and burned was 5,497,312.77, worth $258 million at a 90-day average. OKX Burns 5.5M OKB Tokens The crypto exchange launched the Buy-Back and Burn program in May 2019. It started repurchasing OKB from the original supply of 300...

Ethereum co-founder Vitalik Buterin believes Ethereum still requires “three major technical transitions” to fully mature as a tech stack – and anything less will be insufficient.  In a Friday blog post, the developer highlighted what’s needed to implement each of his ideal improvements, which could include “deep changes from applications and wallets.” Scaling, Security, and Privacy According to Buterin, Ethereum’s three transitions include layer-2 scaling (rollups), enhanced...

The largest banking institution in Russia by assets value – Sberbank – will reportedly enable private investors to buy and sell digital currencies in the following weeks. The entity jumped on the bandwagon a few years ago, attempting to launch several cryptocurrency projects. For one, it sought approval to issue its own digital currency and introduced the first blockchain-focused ETF in Russia.  Sberbank Pushes Forward As reported by a local media outlet, the bank will let...

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Dan Sunghan – Director of the Financial Crime Investigation Bureau at the Seoul Southern District Prosecution Service – claimed that the former crypto mogul Do Kwon had moved nearly $30 million in digital currencies to an unknown wallet shortly after his arrest in Montenegro. The 31-year-old South Korean has faced huge criticism and was blamed for having a hand in the massive LUNA/USD collapse last year that triggered multi-billion investor losses. He allegedly spent several...