Tag Archives: social

As BTC gets rejected from $30,000 and ETH slides below $2,000, the broader crypto market is deep in the red zone. As of now, half of the top 30 cryptocurrencies are 80% (or more) down from ATHs. Altcoins in Bloodbath After major cryptocurrencies hit ATHs last November, with Bitcoin touching the $69,000 level at one point, a months-long bear market has brought 15 of the top 30 cryptocurrencies 80% down from their record highs. As the selloff extends in time with no signs of...

The French fashion brand – Balenciaga – will reportedly embrace cryptocurrencies as a payment method for its products. Initially, the offering will be available at the firm’s US shops on Madison Avenue in New York and Rodeo Drive in Beverly Hills, Los Angeles. Balenciaga Catching the Crypto Wave According to a recent coverage, Balenciaga will allow its American customers to buy clothes, shoes, bags, and other products using bitcoin and ether. Customers will also be able to...

China may have banned cryptocurrencies on its territory, but blockchain technology remains a key priority area for the government. Its global ambitions in this space are just taking off with BSN Spartan Network, which is advertised to be open-source and free from the Chinese government’s snooping. BSN’s Spartan Network Blockchain-based Service Network (BSN), a project backed by the Chinese government, is planning to launch its first major international service, the Spartan...

Earlier this month, the crypto industry suffered a huge setback after Terra’s algorithmic stablecoin UST depegged from the US dollar and caused LUNA to lose 99.9% of its value. Shortly after the crash, Terraform Labs’ CEO Do Kwon proposed a revival plan for the Terra ecosystem. It centered on forking the current chain, abandoning UST, and creating a new token that will be distributed to investors based on the losses they incurred during the catastrophic event. Do Kwon Shares...

American video game retailer GameStop announced the launch of its digital asset wallet. Following the development, shares of GameStop (GME) rose by more than 2% premarket on Monday to $98.02. It was currently trading at $95.66. GameStop Wallet GameStop’s new self-custodial Ethereum wallet will allow users to store, send, receive and use cryptocurrencies and non-fungible tokens (NFTs) across decentralized apps without having to leave their web browsers, the company said. It is...

Despite reclaiming the $30,000 mark late last night, bitcoin still closed the weekly candle in the red. Thus, the cryptocurrency extended its negative streak to eight consecutive weeks. 8 in a Row in Red A lot can change in the cryptocurrency space in two months, and it definitely did for bitcoin. The asset stood close to $50,000 at the end of March, and when the community expected a run towards that level, the landscape changed, BTC reversed its trajectory and headed for its...

The President of the European Central Bank (ECB) – Christine Lagarde – reiterated her negative stance on cryptocurrencies, claiming they are “based on nothing” and should be strictly regulated. Nonetheless, she revealed that one of her sons had distributed some of his wealth into the digital asset market. Diving Into Crypto Despite Mom’s Advice Numerous central bankers have criticized the cryptocurrency sector over the past few years. The French politician and the ECB’s...

Renowned VC firm – Andreessen Horowitz (known as “a16z”) – announced launching a $600 million fund, GAMES FUND ON, dedicated to investing in the gaming industry. It has garnered support from industry leaders, including the founders and cofounders of Roblox, Blizzard, Riot Games, Discord, Twitch, and more, for building the next generation of digital games. a16z’s Game Endeavors The leading VC firm a16z said the latest move is based on the belief that games are “driving...

The call for reducing Tax Deduction at Source (TDS) on crypto transactions is intensifying among the crypto ecosystem players in India. A TDS of 1% on virtual digital assets has been approved by the Union budget 2022-23. Terming this too high as it can drive traders away from the market and hurt volumes, industry representatives are demanding to bring it down in the range of 0.01% to 0.05%.  Unocoin, CoinDCX CEOs Call for TDS Reduction Sathvik Vishwanath, co-founder and CEO...

Earlier this week, a pull request was submitted by an Ethereum DevOps engineer for the Ropsten testnet Merge configuration code that can be seen in the GitHub repository. For the uninitiated, the Ropsten testnet was created by Ethereum Foundation nearly five years ago and is considered one of the best replicas for the Ethereum blockchain. The Merge The merge, which marks the end of the PoW-style architecture, will essentially combine the two layers in a single PoS-based...