Author: Maria
Bitcoin is still holding steady above the $60,000 price mark, but recent actions by miners could disturb this stability very soon. The recent halving cut the block reward from 6.25 BTC to 3.125 BTC, meaning miners now receive half as much for verifying transactions and mining new blocks. As noted in a recent report by Kaiko, miner revenues have plummeted since the halving, and miners are beginning to feel the pressure. Bitcoin Under Increased Pressure Bitcoin miners largely rely on two revenue streams to keep operating: the mining reward and transaction fees. The Bitcoin market is cyclical and each halving…
Ethereum is a legacy network, but it has been rapidly evolving. It has adapted to environmental needs, for example, while looking for ways to scale. Several hard choices have been made, including shifting from a proof-of-work to a proof-of-stake system. However, Péter Szilágyi, a developer and team lead at Ethereum, is concerned about how “malleable” Ethereum is becoming. Ethereum Prioritizing Short-Term Fixes Over Protocol Integrity? Taking to X, Szilágyi criticized the project’s development direction. The team lead noted an increasing trend of developers prioritizing short-term fixes over the protocol’s long-term health. This criticism comes at a time when regulators have been scrutinizing…
In a bid to combat the increasing number of cybercrimes, China’s Supreme People’s Procuratorate (SPP) has set its sights on criminals utilizing blockchain technology and metaverse projects for illicit activities. The SPP has expressed concerns about the surge in online fraud, cyber violence, and the infringement of personal information. Blockchain Technology: A Breeding Ground For Criminal Activities? The SPP has reported a significant rise in cybercrimes committed on blockchains and within the metaverse. Criminals are increasingly using cryptocurrencies for money laundering, making it difficult to trace their illicit wealth. Additionally, telecom fraud charges related to cybercrimes have risen by 64…
On-chain data shows around 199,000 Litecoin addresses have sold off their entire holdings during the past 10 days alone. Litecoin Addresses Carrying Some Balance Have Noted A Sharp Drop Recently According to data from the on-chain analytics firm Santiment, the small LTC addresses have appeared to have been giving up recently as they have been emptying out their balances. The metric of interest here is the total number of addresses on the Litecoin blockchain that are carrying a non-zero amount of the cryptocurrency. When the value of this indicator goes up, it means that the asset is observing more adoption…
Jim Cramer, the outspoken host of CNBC’s Mad Money, has caused a stir in the financial sector by endorsing Bitcoin (BTC) over MicroStrategy stock (MSTR). This recommendation follows despite MSTR’s notable year-to-date performance of 85%, compared to Bitcoin’s 125% gain. Cramer’s endorsement, however, is met with a dose of skepticism. The financial guru is known for his sometimes-inaccurate predictions, with some even claiming his recommendations have the opposite effect – a phenomenon known as the “Inverse Cramer” theory. MicroStrategy Doubles Down On Bitcoin While Cramer throws shade at MicroStrategy, the company remains a staunch Bitcoin advocate. CEO Michael Saylor is…
Quick take: Bitmex’s founder and former CEO, Arthur Hayes, has requested leniency from the judge handling his court caseMr. Hayes is requesting no jail time and permission to live abroad and travel freelyHis lawyers have also asked for probation with no home detention or community confinementArthur Hayes had struck a plea deal that would result in a prison sentence of 6 to 12 months The founder of Bitmex and former CEO, Arthur Hayes, is requesting leniency from the Manhattan Federal Judge handling his court case. According to Bloomberg, Mr. Hayes, who pleaded guilty to violating the Bank Secrecy Act in…
Shibarium, the Layer-2 blockchain developed by the creative minds behind Shiba Inu (SHIB), has shattered expectations by reaching an extraordinary milestone in transaction throughput. Surpassing an impressive 411 million transactions, Shibariumscan has revealed the platform’s resilience in the face of market volatility. The recent surge in user adoption and the influx of dApp builders have contributed to Shibarium’s exponential growth. Over the past few days alone, more than 3 million transfers have been added, solidifying Shibarium’s position as a force to be reckoned with in the blockchain space. This achievement is particularly impressive given the current daily transaction throughput…
The total value of assets under management for crypto-related investment products surged 107% to $46.2 billion on the heels of the tenth consecutive week of inflows recorded by these products.Per CoinShares’ weekly report, crypto products recorded a robust inflow of $176 million during the past week, bringing its total for the 10-week influx to an impressive $1.76 billion. The asset manager noted this sustained influx is the most substantial since Oct.2021, coinciding with the launch of a futures-based ETF in the United States.Notably, these inflows have amplified Exchange Traded Products (ETP) trading volumes to around $2.6 billion, constituting 12% of…
Ethereum is a legacy chain that has scaled over time to address the needs of the ever-demanding global user base. To relieve the mainnet of the deluge of transactions, more layer-2 platforms have sprouted. They are cheaper to transact on and scalable, allowing users to deploy intensive decentralized applications that won’t be feasible on the base layer. Ethereum Layer-2s Are A Success, But There Is A Problem According to L2Beat, layer-2 platforms on Ethereum currently manage over $39 billion in total value locked (TVL). Even so, Nikita Zhavoronkov, a lead developer at Blockchair, is concerned and thinks layer-2s are a “huge legal…
Yao Qian, a prominent ‘pro-blockchain official’ in China, is under investigation by Chinese authorities for undisclosed “violations of law.” The Background Of Blockchain Advocacy And The Current Crackdown Qian, known for his pivotal role in developing China’s Central Bank Digital Currency (CBDC), has been a leading voice in the country’s blockchain initiative. Qian’s efforts were instrumental in the conceptualization and rollout of the digital yuan, positioning China at the forefront of digital currency technology on a global stage. The investigation, led by the Discipline Inspection and Supervision Team of the Central Commission for Discipline Inspection and the National Supervision Commission…