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Crypto News

Nearly One Million ETH Burned in Ethereum's Merge Milestone Celebration

In a celebration of Ethereum's one-year anniversary since implementing the Merge upgrade, Binance highlights significant milestones. The transition to proof-of-stake (PoS) from proof-of-work (PoW) has resulted in the burning of nearly one million ETH, reducing the supply and making Ethereum deflationary. Over 22% of ETH is now staked, and gas fees remain stable. The PoS mechanism has reduced Ethereum's energy consumption by 99.99%. With 362,000 new validators added, Ethereum continues to evolve as the largest smart contract network, marking a greener and more sustainable future.

U.Today - 970 ngày trước

Japan Facilitates Crypto-Based Startup Funding through Regulatory Reforms

Japan is taking steps to rejuvenate its startup ecosystem by allowing ventures to raise funds through cryptocurrencies. The government's plan to relax restrictions on fundraising methods aims to promote growth in venture capital funding. Under the new regulation, investors can provide startups with both traditional stocks and cryptocurrencies. This move aligns with Japan's increasing support for the crypto industry, even as regulators focus on compliance and anti-money laundering measures. Japan's progressive approach mirrors global efforts to embrace the expanding crypto sector, despite stricter regulations like the Travel Rule being enforced.

CoinJournal - 970 ngày trước

Latin America Takes Center Stage in Crypto Adoption Surge

Latin America is making significant strides in cryptocurrency adoption, with the region accounting for 9.1% of global crypto value in 2022, totaling $562 billion in transactions from July 2021 to June 2022. Factors driving this surge include rising inflation, progressive regulatory developments, and innovative uses of blockchain technology. In countries like Argentina and Venezuela, crypto is being embraced as a hedge against hyperinflation, while asset tokenization and crypto gaming are democratizing investment opportunities and providing new avenues for artists and gamers. Despite challenges, Latin America's crypto landscape is evolving rapidly.

CoinJournal - 971 ngày trước

Sony Ventures into Blockchain Space, Announces Joint Venture for Web3 Development

Japanese tech giant Sony is set to enter the Web3 space by developing its own blockchain network. The company's IT subsidiary, Sony Network Communications, will collaborate with Singapore-based Startale Labs to create a joint venture called Sony Network Communications Labs. Sony aims to leverage its expertise in IoT, AI, and solution services to build a global infrastructure for the Web3 era. This move follows Sony's previous forays into blockchain, including rights management solutions and blockchain platforms for J-pop groups. Sony joins a growing list of Japanese firms entering the blockchain, metaverse, and NFT sectors.

cryptonews - 971 ngày trước

Bitcoin and Crypto Can Surge Regardless of the Fed's Money Printer, Says Arthur Hayes

BitMEX founder Arthur Hayes, known for his controversial past, remains optimistic about Bitcoin's (BTC) future. In a recent newsletter, he asserted that Bitcoin's price could continue to rise regardless of the U.S. Federal Reserve's interest rate policies. Hayes believes that "capital at the margin" will shift to hard financial assets like Bitcoin, productive farmland, and big tech-AI stocks. He attributes this to the government's spending, which has lowered yields on government bonds. Despite his legal issues last year, Hayes remains confident in crypto's potential for substantial growth.

The Daily Hodl - 971 ngày trước

Bitcoin's Potential to Reign Supreme During Interest Rate Surge, as Predicted by Bloomberg Analyst Mike McGlone

Bloomberg Intelligence's senior commodity strategist, Mike McGlone, has suggested that Bitcoin could excel in an environment of increasing interest rates. McGlone cited Bitcoin's 24-7 trading and historical performance as factors supporting its investment appeal, particularly with the Federal Reserve signaling monetary tightening. He also noted the influence of Bitcoin's 20-week moving average on broader markets. While McGlone pointed out potential challenges due to rapidly rising interest rates, he emphasized Bitcoin's alignment with the current tightening cycle. The Federal Reserve is expected to maintain higher interest rates until at least Q2 2024.

U.Today - 971 ngày trước

Ethereum's Daily Active Addresses Soar, Signaling Potential Recovery

Ethereum's on-chain activity has surged, with daily active addresses reaching around 1,089,893 on September 13, the second-highest ever recorded. This spike suggests growing demand for ETH, even amid recent market volatility that pushed its price below $1,700. Ethereum remains attractive to institutional investors, with increasing interest in spot exchange-traded funds. Despite potential short-term challenges, Ethereum's strong fundamentals, liquidity, and central role in blockchain networks position it favorably for the future, although it may continue to face pressure linked to Bitcoin's market trends.

cointelegraph - 972 ngày trước

Russia Takes a Step Closer to Legalizing Decentralized Financial Entities

Russia is actively working to legalize and regulate Decentralized Autonomous Organizations (DAOs) to inject vitality into its Digital Financial Assets (DFA) market, as stated by Ivan Chebeskov, the Director of the Department of Financial Policy of the Ministry of Finance. This move comes in response to international sanctions on Russia and aims to bridge the gap between DFAs and decentralized finance (DeFi), leveraging the potential of the existing liquidity in DeFi. Russia's efforts to attract investors to its DFA market have faced challenges, and the legalization of DeFi DAOs could accelerate its growth.

CryptoPotato - 972 ngày trước

Telegram Empowers 800 Million Users with TON-Based Crypto Wallet Integration

Telegram Messenger has introduced the TON Space self-custodial crypto wallet, a major step towards its original vision for the Telegram Open Network (TON). The wallet, based on The Open Network, is now accessible for Telegram Wallet users and will roll out globally in November (excluding the U.S. and select countries). Telegram's collaboration with TON Foundation signals TON's revival as an open-source community project, offering users control over their digital assets and identities. The launch also grants priority access to TON projects on Telegram Ads, supporting the Web3-Web2 partnership.

theblock - 973 ngày trước

PayPal Introduces Off-Ramp Service for Crypto-to-USD Conversions

Digital payment giant PayPal has expanded its crypto offerings with the launch of an "Off Ramp" service allowing U.S. users to convert crypto tokens to USD directly into their PayPal accounts. This service is available to wallets, dApps, and NFT marketplaces. PayPal highlights its robust security controls and fraud management tools, making it an attractive option for crypto users. This move follows MetaMask's recent introduction of a similar feature. PayPal initially entered the crypto space in late 2020 and continues to expand its crypto-related services, including fiat on and off ramps.

PayPal - 974 ngày trước

Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.

newsbtc - 967 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 967 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.

Blockworks - 967 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin'