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Tag Archives: Avalanche

Digital Asset Investments Stage a Comeback; Bitcoin Reigns Supreme With $87.6M Inflows

Digital asset investment products resumed inflows after breaking the 11-week streak of positive cash flows. According to the findings by CoinShares’ Head of Research, James Butterfill, the net inflows totaled $103 million over the last week. Bitcoin investment products, as usual, attracted the highest capital inflow. The digital asset manager revealed a net inflow of $87.6 million during the period. Short-bitcoin also experienced a minor inflow amounting to $0.3 million....

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Bitcoin Price Eyes $44K Mark as Crypto Market Cap Is Close to $1.7T

The overall crypto market cap was close the $1.7 trillion mark on Wednesday, signaling that more money might be flowing into the crypto industry. Bitcoin (BTC) price rebounded from some of its losses from yesterday, edging close to the $44,000 level early Thursday morning. Recall that on Wednesday, US stocks recorded an unexpected drop that saw the S&P 500 index closing 1.42% lower on the day. This drop, albeit unsurprisingly, was enough to impact riskier assets like Bitcoin and the...

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Avalanche, Solana Memecoin Fever Continues amid Bitcoin Price Rally to $43K

Despite the fervor in memecoin trading, some trading firms suggest that recent market movements do not indicate an imminent correction in the short term. Earlier today, the world’s largest cryptocurrency Bitcoin (BTC) gained an additional 5% taking its price past $43,000 levels. The recent price surge comes as BlackRock, WisdomTree, and others submit their updated S1 applications to the SEC. Along with Bitcoin, the altcoin market is once again buzzing with activity. Solana, Avalanche, and...

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Avalanche Network Gas Fees Surge Linked to Trader Joe Founder’s Social Experiment

On December 18, the Avalanche network experienced a surge in its average gas fee, reaching an unprecedented 5,110.30 nAVAX, or about $4.41, according to Avascan data. This substantial increase is attributed to a unique event caused by the founder of the decentralized trading platform Trader Joe, known as @cryptofishx on social media, who introduced an ASC-20 standard inscription called Avascription, with the nickname “BEEG.” Avalanche Network Gas Fee Soars Due to BEEG...

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Bitcoin Ends 11-Week Winning Streak With $33M Outflows While Altcoins Buck Trend: CoinShares

Digital assets investment products ended their 11-week streak of positive cash flows with withdrawals amounting to $16 million. However, trading activity remained significantly higher than the yearly average, reaching $3.6 billion for the week, in contrast to the year-to-date average of $1.6 billion. Bitcoin was the worst hit, witnessing outflows of $33 million last week, while short-bitcoin also experienced minor outflows amounting to $0.3 million. Contrary to the overall...

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Core Revolutionizes Wallet Creation with Seed Abstraction Feature

Core’s Seed Abstraction offers a seamless cross-chain experience. Users can employ Core-generated seeds across a spectrum of blockchains. In a groundbreaking move for the crypto space, Core Wallet has introduced an innovative approach to wallet creation with its Seed Abstraction feature. According to a press release shared with Coinspeaker, this pioneering technology eliminates the need for cumbersome seed phrases, providing users with a more accessible and user-friendly experience without...

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Bitcoin and Altcoins Market Rally Resumes Following Fed Interest Rate Announcement

Although the price spikes following the Fed announcement cleared recent bearish drawdowns and provided support levels, uncertainty remains over the sustainability of the increases. The prices of major cryptocurrencies, including Cardano (ADA) and Solana (SOL), have seen fluctuations around the latest Federal Reserve announcement on interest rates. On December 13th, 2023, the Fed decided to keep rates within a target range of 5.25–5.50%, leading to an initial boost in the price of Bitcoin...

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Bitcoin Maintains Investor Interest with $20 Million Inflows, YTD Total Hits $1.7 Billion: CoinShares

Investment products related to digital assets experienced inflows amounting to $43 million last seven-day period, marking the 11th consecutive week of such positive movements. However, this figure represents a noticeable decrease compared to previous weeks. According to CoinShare’s latest report, the recent rise in prices has prompted a significant influx into short positions, as some investors perceive potential downward price movement. The digital asset manager found that...

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IEEE to Execute Credentialing System on Avalanche in Zupple Labs Partnership

IEEE’s influence spans a wide range of sectors, including publications, conferences, technology standards, and professional and educational activities. The Institute of Electrical and Electronics Engineers (IEEE), the world’s largest technical professional organization with over 426,000 members across 160 countries, has taken a pioneering step towards enhancing the security and efficiency of its credentialing system. In a strategic partnership with Zupple Labs, IEEE is set to implement a...

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KyberSwap Recovers $5.7M from $47M Hack, Gives Hackers 10% Bounty

KyberSwap has stated that it will continue to cooperate with law enforcement and cybersecurity experts to recover user funds and track down the perpetrators of the attack. The KyberSwap team has recovered approximately $5.7 million after last week’s $47 million hack on KyberSwap liquidity pools on Polygon and Avalanche. The company announced that it has negotiated a return of 90% of the user funds, with the remaining 10% serving as a bounty for the hackers. “The KyberSwap team has been in...

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