Tag Archives: social

After sitting below $27,000 for a few days, bitcoin finally jumped above that level in the past 24 hours but is yet to decisively reclaim it. Most altcoins are with insignificant gains on a daily scale, aside from the trending memecoin – PEPE. Bitcoin Uncertain at $27K Last week started on a positive note for bitcoin, which jumped to over $27,600 after the stagnant weekend. However, that was short-lived, and the asset retraced to below $27,000 in a matter of days. Another...

Aside from a brief pump and dump of around $500 yesterday, bitcoin has remained relatively stagnant at just under $27,000. Although generally more volatile by nature, the altcoins have also failed to produce any significant moves in the past day. Injective is among the few exceptions. Bitcoin Stalls Below $27K After the enhanced volatility at the end of last week, which resulted in BTC dumping to a two-month low of under $26,000, the cryptocurrency has been trading with a lot...

As Hong Kong takes center stage in the regional crypto business, local firms are trying to expand their customer base. One such firm, HashKey Group, is reportedly raising up to $200 million in funding to tap new opportunities. HashKey Eyes $200 Million in Funding Targeting a more significant share of the Asian crypto market, Hong Kong-based crypto financial service provider HashKey Group plans to expand its operations. The crypto investment fund is reportedly in early-stage...

Global payments giant Visa has deployed experimental smart contracts on Ethereum’s Goerli testnet to pilot gasless transactions through account abstraction. The two sets of smart contracts, dubbed Paymaster, will simplify user interaction with the Ethereum network by performing complex tasks and managing transaction costs on behalf of other accounts. Visa Tests Paymaster for Frictionless Transactions Account abstraction is a proposal to increase flexibility in the management...

Developers of decentralized exchange (DEX) Swaprum have drained $3 million in ether (ETH) tokens from the protocol in an apparent rugpull, otherwise known as an exit scam. The exchange, launched on the Ethereum layer-2 network Arbitrum, offers high farming rewards, low swapping fees, and potential earnings of up to 100% annual percentage yield (APY). Swaprum Rugpulls Users for $3M Blockchain security firm Peckshield flagged the incident on Friday, disclosing that...

The banking giant Goldman Sachs determined in a recent study that 32% of family offices across the globe have exposure to digital assets, NFTs, or DeFi, while 26% have explicitly invested in cryptocurrencies. The results from the 2021 research showed that only 16% of the wealth management firms were HODLers.  Two Years Difference  Goldman Sachs contacted 166 family offices in the Americas, Europe, the Middle East and Africa (EMEA), and Asia-Pacific (APAC) to determine how...

The latest buzz in the crypto world revolves around the newly introduced Bitcoin token standard (BRC-20), which has garnered considerable attention and favor owing to the recent memecoin craze. Despite the ongoing hype, the token standard is still subject to certain constraints concerning the broader crypto landscape. A recent report by leading crypto exchange Bitfinex has emphasized the token standard’s potential and the significance of identifying more use cases to expedite...

In the lead-up to the last month’s Shapella upgrades, many crypto pundits speculated that activating staked Ether withdrawals could drag the price of the native asset down. But the latest data suggest that the selling pressure on ETH post-withdrawal “has been somewhat of a non-event.” This is backed by the fact that deposits have almost matched the amount of ETH coming into circulation. State of Ethereum: Post Shapella The Shapella implementation was crucial as it enabled the...

Amid the banking turmoil in the United States, Tether (USDT) emerged as the preferred stablecoin. The resurgence was evident in its latest attestation report, which revealed that the stablecoin issuer recorded a net profit of nearly $1.5 billion in the first quarter of 2023. According to the official statement, Tether’s excess reserves reached an all-time high of $2.44 billion in Q1, as compared to $960 million at the end of Q4 2022. The stablecoin ended the first quarter of...

Bitcoin tried its hand at taking down $27,000 yesterday but failed amid low weekend trading volumes and has remained relatively still. The altcoins are also lacking any substantial price moves, with ETH reclaiming $1,800 and BNB pumping above $310. Bitcoin Stays Flat The past several days didn’t go well for the primary cryptocurrency. It all started on Wednesday when the asset jumped from $27,500 to $28,400 in minutes after the US CPI numbers came out for April. Although BTC...