Bitcoin climbed above $52,000 last week, a level not seen since December 2021, catapulting the collective crypto market cap to an astonishing $2 trillion. Several altcoins have reacted positively to this uptrend, closely following the trail of the leading crypto asset. A prominent metric indicates a higher-than-average risk associated with purchasing or initiating new positions...Read More
ETH has been one of the best-performing assets lately, witnessing a remarkable surge above $2,900 as it reached its highest point in almost two years. Currently, Ethereum futures traders appear to be increasingly confident about the leading altcoin’s trajectory. This was evident by the significant surge in open interest which reached its peak to levels...Read More
Vitalik Buterin has taken to social media to express his anticipation for the imminent integration of “Verkle trees” onto the Ethereum blockchain. He emphasized that this advancement will enhance the functionality of staking nodes, decrease disk space requirements, and elevate the overall user experience. Enhanced Efficiency and Decentralization In a recent post on the social...Read More
A 51% attack occurs when a single network miner or group of miners controls more than half of a blockchain network’s hash rate. Theoretically, this would enable the attacker to block transactions from taking place in the blockchain, alter the sequence of new transactions, and potentially revert past transactions (referred to as “double spending”) by...Read More
By Piers Ridyard, CEO of RDX Works The 2018-19 bear market saw the development of the MetaMask wallet, Uniswap decentralized exchange, OpenSea NFT marketplace, and alternative Layer 1s such as Solana. Only with this kind of core infrastructure in place was the subsequent 2021 boom in DeFi and NFTs made possible. A similar story is...Read More
Starknet Foundation has announced its plans to begin distributing its native network token – STRK – on February 20th With nearly 1.3 million wallets eligible for a reward – including early users of ecosystem dapps, network contributors, and others, this token distribution method sets Starknet apart from the rest, according to Eli Ben-Sasson, the board...Read More
Hayden Adams, the founder of Uniswap, took to social media to alert the crypto community about a new wave of scams targeting users through deceptive user interfaces (UIs) in crypto wallets. Adams’ warning sheds light on how scammers are leveraging fake clones of Ethereum Name Service (ENS) domains to deceive users and potentially siphon funds....Read More
Founders Fund, the venture capital enterprise founded by billionaire Peter Thiel, is reportedly reinvesting in Bitcoin and Ether, as per reports. This move by the San Francisco-based venture capital firm, which has roughly $12 billion in total assets under management as of 2023, marks a resurgence of Silicon Valley’s interest in the crypto market. Silicon...Read More
Investments in digital assets surged by $1.1 billion, bringing the year-to-date total to $2.7 billion. With the recent market recovery and subsequent price hikes, the total assets under management (AuM) have reached their highest point since early 2022, hitting $59 billion. According to Coinshares’ latest edition of Digital Asset Fund Flows Weekly Report, Bitcoin dominated...Read More
Farcaster, an Ethereum Layer 2 Optimism-based decentralized social protocol, has seen its total revenue surge to $600,000. The platform’s rise has been likened to FriendTech, another decentralized social network, which attracted a lot of users initially until it grappled with high fees that led to its failure. Farcaster’s Growth Surges with Frames Integration Farcaster initially...Read More
A trader has recently managed to make a substantial profit of $59,000 in just 11 hours from an initial investment of 1 Ethereum (ETH), valued at $2,500. The trader managed to do this by leveraging the MINER token based on the ERC-404 token standard and using strategic high-gas transactions. The Trader’s Strategy Lookonchain Analytics shared...Read More
Pandora has witnessed a remarkable surge of over 30% in the last 24 hours amid a broader market resurgence. This increase can be attributed to recent announcements by crypto wallets from renowned exchanges like Binance and OKX, which emphasized the inclusion of support for the ERC-404 token standard. The ERC-404 Token Standard Based on data...Read More
Cathie Wood’s asset manager Ark Invest wants to bake staking into its proposed Ethereum Spot ETF – a feature that could revolutionize how the product is evaluated by Wall Street. In an amended S-1 application form filed on Wednesday, Ark included a lengthy passage about what the Ethereum network is and how it stays decentralization,...Read More
Ethereum’s staking has achieved a significant milestone, with approximately 25% of the entire ETH supply, equivalent to around 30 million coins, now being staked. Meanwhile, the ETH price has seen a 2.8% increase over the past day and is trading at $2,425. Ethereum Staking Soars On February 8, Lido, a prominent liquid staking platform, highlighted...Read More
A cryptocurrency trader has profited more than a million dollars from a less than $100,000 purchase of the just launched Pandora (PANDORA) token. According to a tweet by market analytics platform LookOnChain, the trader’s purchase recorded gains after two days. The price of #Pandora, the first token built on the #ERC404 token standard, has now...Read More
The total value locked on Ethereum restaking protocol EigenLayer has surged 70% over the past week. Furthermore, it is currently at an all-time high of $3.4 billion, according to DeFiLlama. The reason for the surge is a reopening of deposits on the restaking platform and the removal of staking limits or caps. On Feb. 6,...Read More
Investment products for digital assets received significant influxes of $708 million last week, contributing to year-to-date inflows of $1.6 billion and increasing the total global assets under management to $53 billion. However, trading volumes in ETPs dropped to $8.2 billion from the previous week’s total of $10.6 billion, though they still surpass the 2023 weekly...Read More
Not many cryptocurrency investors think of XRP as an Ethereum competitor. That would be blockchain coins like Solana, Cardano, BNB Coin for Binance Smart Chain (BSC), and Avalanche. Ripple Is A Real Ethereum Competitor XRP Ledger (XRPL), however, extends the RippleNet ecosystem. With it, the cross-border payments platform for easy foreign currency exchange and fast...Read More
The highly-anticipated Dencun upgrade of Ethereum was successfully deployed on the Sepolia testnet on Jan. 30. This marks the second deployment out of three planned testnet launches, bringing the Ethereum community one step closer to embracing the features of Dencun. Smooth Sailing on Sepolia Testnet Terence Tsao, from Prysmatic Labs, the team behind the Prysm...Read More
Ethereum is among the cryptos that trade with acute strength, maintaining a significant upswing ever since the trend flipped at the beginning of 2023. The bullish push in the last few weeks has induced notable strength in the second-largest token, which is again approaching the pivotal resistance level. Previously, it faced a massive rejection that...Read More
Polygon, a layer-2 scaling network, nearly matched Ethereum’s user base in 2023, as reported by blockchain analytics firm Flipside. Polygon acquired 15.24 million users that year, coming close to Ethereum’s 15.4 million, with a difference of around 160,000 wallets. Polygon Topped User Acquisition in First Half of 2023 Flipside defines an “acquired” user as someone...Read More
On January 26, the Twitter account of Staci Warden, the CEO of the Algorand Foundation, was hacked. The breach was announced via an official post by the Algorand Foundation, cautioning the community against interacting with any links or responding to private messages from the compromised account to prevent potential asset theft. Hacker Urges Community to...Read More
Bitcoin’s value dipped below $39,000 this week, erasing almost all gains made in the last two months, which were fueled by expectations of approval for a spot BTC ETF in the United States. But the introduction of the much-anticipated funds ended up being a classic “sell-the-news” event. The term is a well-established concept in capital...Read More
Ethereum has currently found itself situated within a crucial demand zone after falling below the $2,300 threshold. While the risk of additional decline in the altcoin’s value, the recent dynamics in Ethereum’s futures market sentiment have been underscored by a critical analysis of funding rates, which serves as a crucial indicator, shedding light on the...Read More
Digital asset investment products experienced modest withdrawals of $21 million last week. However, this overall figure doesn’t reflect the significantly elevated trading activity, with Bitcoin alone witnessing trading volumes of $11.8 billion. This amount is seven times higher than the typical weekly trading volume observed in 2023, according to the latest report by CoinShares. US...Read More
Ethereum continues to be the number one blockchain among crypto developers, with more than 70% of new contract codes first deployed on the network, according to the latest report by Electric Capital. Also, there has been a spread in the distribution of developers globally, with more crypto devs living outside North America, as opposed to...Read More
Metamask launched Validator Staking support on its wallets as of January 18. Users who wish to stake their tokens will need to have at least 32 ETH in their wallets to do so, which is the minimum requirement of the Ethereum network itself. Introducing Validator Staking on MetaMask Portfolio.🦊 With a 32 ETH deposit, we...Read More
The U.S. Securities and Exchange Commission (SEC) has extended the deadline for making a decision on Fidelity’s proposal for a spot Ethereum exchange-traded fund (ETF) to March 5, as indicated in a filing on Thursday. This delay coincides with the submission of five other applications for leveraged Bitcoin ETFs seeking approval from the SEC. SEC...Read More
In Ethereum, six major buying points have emerged since ’23, with the second largest liquidation of long positions occurring on January 12, coinciding with the approval of the spot Bitcoin ETFs and triggering a significant price correction. Based on a recent examination, the liquidation of long positions has set a tail low at $2,450. A...Read More
Decentralized exchange (DEX) dYdX has made headlines by surpassing Uniswap, a long-standing leader in the sector, to become the platform with the largest 24-hour trading volume. This achievement is particularly significant following dYdX’s strategic migration from the Ethereum blockchain to the Cosmos ecosystem. dYdX Surpasses Uniswap Following Cosmos Transition dYdX, a crypto derivatives platform, announced...Read More
