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With bitcoin’s price correcting in the past few months, the usage of the network has also declined substantially. The estimated daily USD transaction value on the blockchain, the number of transactions, the on-chain activity, and miners’ revenue have all dropped since their respective peaks earlier this year. Transaction Count and USD Value Drop According to data from Blockchain.com, the daily confirmed transactions on the world’s largest blockchain have seen a massive...

After the Bitcoin and Ethereum Trusts, Grayscale’s Digital Large Cap Fund has also filed and been approved to become an SEC-reporting product. Additionally, the largest digital asset manager has filed three more Registration Statements with the Commission. Grayscale Investments, the large cryptocurrency asset manager, filed a Registration Statement on Form 10 with the Securities and Exchange Commission earlier this year. The company announced on July 12th that the application...

Hive Blockchain Technologies Ltd, the cryptocurrency mining firm that went public in 2017, has purchased more than 3,000 mining devices. The machines, MicroBT WhatsMiner M30S, should increase the firm’s overall Bitcoin hash rate by nearly 50%. HIVE Buys 3,019 Miners The company announced its latest purchase in a press release on July 12th. The equipment will be put to work shortly with an aggregate hash power of 264 Petahash per second, which should increase the overall BTC...

One of the largest financial institutions in South Korea – Woori Financial Group – will offer crypto custody services to its clients. Its banking unit – Woori Bank – will launch the initiative in a partnership with the fintech solutions provider – Coinplug Inc. Woori Bank Dives into Crypto According to a report from The Korean Economic Daily, Woori Bank will be the next South Korean bank to enter the digital asset custody services (DACS) market. The institution teamed up with...

The trading volumes remained low during the weekend once again, but bitcoin jumped by more than $1,000 in a day to a high of around $34,700. The alternative coins have also bounced off and reclaimed some ground, with BNB exceeding $330 and XRP spiking by 5%. Bitcoin Tops $34K Despite Minimal Volume The scenario in the past two weekends was quite similar, and we didn’t see much going on. As a result, the trading volume reached multi-month lows, according to data from...

With Grayscale Bitcoin Trust (GBTC) biggest BTC unlocking event scheduled to happen in the middle of July, many market analysts and traders are worried about the potential effects of this event on bitcoin’s price and the crypto market in general. However, crypto trading firm, QCP Capital, believes the unlocking will not pose any significant threat to the market’s balance. What Is The GBTC Unlock? Grayscale Bitcoin Trust is the largest traded crypto fund in the world, owned by...

Approximately 8 out of 10 wealth managers and institutional investors from the US, France, Germany, the UAE, and the UK said they would enhance their crypto exposure between now and 2023. 40% of them plan to “dramatically increase their holdings.” High Hopes on Crypto A recent survey conducted by a European investment manager dedicated to cryptocurrencies – Nickel Digital Asset Management (Nickel) – revealed that more than 80% of the asked investors expect to increase their...

ChainSwap, a cross-chain asset bridge and application smart chain, has become the latest victim of the increasingly worrying exploits happening in the DeFi ecosystem that has caused the sector to lose hundreds of millions of dollars since the start of the year. What is ChainSwap? As a hub for smart chains, the ChainSwap protocol acts as a defi bridge for projects and users to seamlessly move assets between different blockchains like Ethereum (ERC20), Binance Smart Chain...

Bitcoin’s calm weekend continues as the asset has stalled in a tight range between $33,000 and $34,000. Most alternative coins are performing similarly with minor moves in either direction. Bitcoin Stalls at $33.5K Bitcoin tested $35,000 during the workweek but failed to breach it, and the bears pushed it down south. In a matter of days, the cryptocurrency fell by nearly $3,000, resulting in a two-week bottom of just over $32,000. Nevertheless, the trajectory reversed shortly...

Containing numerous Ethereum Improvement Proposals (EIPs), including the vital 1559 and 3554, it’s worth exploring the key features of the upcoming London hard fork and how it could change the Ethereum network. Although it was initially scheduled to take place in July, a more recent statement from an Ethereum developer asserted that the London hard fork will occur on August 4th, 2021. Why Does the Ethereum Blockchain Need Improvements? Launched in 2015, the Ethereum network’s...