Major centralized exchanges experienced a substantial growth in their futures trading volumes at the end of March. According to data from WuBlockchain, Bitfinex and Deribit saw triple-digit percentage gains in futures trading volume compared to February, at 122.7% and 111.8%, respectively, with figures reaching over $3 billion and $27 billion. Meanwhile, Binance recorded a 47.7%
admin
China’s Supreme People’s Procuratorate has expressed concerns about the growing NFT market in the country. The market is still in its infancy and faces challenges due to a lack of industry standards and government regulation. These factors, combined with the novelty of the market, result in several financial and social risks, including price manipulation, scams,
Bitcoin’s Ordinal inscriptions have been gaining unstoppable momentum, defying skeptics and surpassing several milestones. The blockchain now boasts over 7 million inscriptions, a clear indication of the high demand for this trend. As of May 16, 2023, the number of inscriptions stands at 7,204,882, up from the inaugural one in December 2022. The growth rate
OKX, the cryptocurrency exchange, has announced that its wallet will soon support Bitcoin Ordinals and BRC-20 tokens trading. According to a statement released on May 16th, the exchange will enable support for BRC-20 token trading and BTC cross-chain swap this week, while support for Ordinal inscriptions and token casting will be allowed in June. The
The crypto market has taken a downturn just as Bitcoin (BTC) seemed poised for a price breakout. On May 16, Bitcoin hit a 7-day low of $26,970, causing concern among traders that a larger price dip may be on the horizon. Adding to these worries, a CME gap is currently sitting at $24,000. Ether (ETH)
In recent weeks, Coinbase has been requesting clear regulatory guidelines from the SEC to maintain compliance. In response, the SEC has remained silent, leading Coinbase to take legal action. The CEO of Coinbase, Brian Armstrong, has stated that his company is keen to avoid regulatory enforcement and instead, promote cooperation and amicable discussions with regulators.
On Monday, the Seoul Southern District Prosecutor’s Office conducted a search on two of the country’s leading digital asset exchanges, Upbit and Bithumb, as part of an investigation into a growing scandal regarding the suspicious cryptocurrency dealings of a South Korean opposition lawmaker. Kim Nam-kuk, a first-term member of the National Assembly, was accused of
Bitcoin’s recent volatility continued as it failed to break above $27,500 and subsequently retraced to fall below $27,000 once again. Altcoins also experienced minor declines, with Ethereum (ETH) nearing a break below $1,800 and Binance Coin (BNB) falling to $310. However, XRP was an exception with a notable price surge. Last week saw Bitcoin’s price
OKX, a leader in Web3 technology, has announced the launch of its new Ordinals Marketplace on OKX Wallet, allowing users to mint and trade Bitcoin Ordinals and BRC-20 tokens. This move demonstrates OKX’s continued support for the Bitcoin ecosystem and positions OKX Wallet as the only multi-chain wallet that facilitates trading and minting of Ordinals,
The five member nations of the BRICS economic bloc are developing guidelines to address the growing interest of other countries wanting to join the bloc. South Africa’s Minister of International Relations and Cooperation, Naledi Pandor, revealed the news while addressing the South African line ministry on “Strengthening Partnerships for a Fairer and More Equitable Global
Mattel, the popular toymaker, has teamed up with the Fast & Furious franchise to create a new digital collection that features the iconic vehicles from the films. The collection is set to be released in the form of non-fungible tokens (NFTs), providing fans with an exciting new way to engage with their favorite cinematic cars.
Ledger, a popular provider of crypto hardware wallets, has received criticism from its users after releasing an update that has raised security concerns. While the company has defended the update, experts and crypto holders are distancing themselves from the provider. The Issue The controversy began after a Reddit user raised questions about whether Ledger has
The European Union’s Economic and Financial Affairs Council has given unanimous approval to the Markets in Crypto-Assets (MiCA) regulation. The MiCA bill was also passed by the EU Parliament last month. The legislation sets out a comprehensive framework for regulating the crypto industry in the EU, including rules for utility tokens and stablecoins. The bill
Bitcoin Cash (BCH) advocates have unlocked new possibilities with the annual upgrade that took effect on May 15, 2023. With the new upgrade, they can now mint and engage in transactions involving tokens built on the BCH blockchain. This development, called Cashtokens, allows for token creation and transactions to be verified by the BCH network
A panel of lawmakers in the United Kingdom has recommended regulating the trading of unbacked cryptoassets, such as Bitcoin and Ether, as gambling rather than a financial service. The lawmakers stated that the lack of intrinsic value and the price volatility of these assets will inevitably pose significant risks to consumers. Regulating as gambling The
Lido DAO’s price has surged by 40% to reach $2.21, its highest in three weeks, after hitting a local low of $1.57 four days ago. Although the crypto market as a whole has risen by only 4.5% since May 12, LDO has outperformed other top-ranking crypto assets like Bitcoin and Ether. But what are the
Ether’s price has been struggling to maintain its $1,800 support level since May 12, and investors are facing pressures from a worsening regulatory environment for cryptocurrencies. The United States Securities and Exchange Commission (SEC) recently responded to Coinbase’s petition for clear crypto regulation, stating that rulemaking may take years, and enforcement actions will continue in
Worldcoin, the blockchain biometrics project co-founded by OpenAI CEO, Sam Altman, announced a $100 million funding deal this week. The latest round of investors includes both new backers and previous seed round investors such as a16z, Coinbase’s venture capital division, Khosla Ventures, and Sam Bankman-Fried. Despite the significant drop in venture funding for Web3 startups
Epic Games, the company that brought us the Unreal Engine and Fortnite, has announced a partnership with the LEGO Group to create a “family-friendly” Metaverse that is enjoyable and safe for users of all ages. This collaboration comes after Epic Games’ $2 billion funding round to accelerate its Metaverse ambitions. Combining Expertise for a Safer
Launchpad XYZ has a grand vision for the future of web3, where all aspects of decentralized finance, NFTs, play-to-earn gaming, and the metaverse are accessible through a single hub. To achieve this goal, Launchpad XYZ is conducting a presale of its $LPX utility token, which has already raised over $450,000, indicating strong interest in the
Celsius, the bankrupt crypto lending firm, is eager to retrieve its staked Ether (ETH) stash from liquid staking platform Lido. It has initiated the process of withdrawing its Lido Staked ETH (stETH) from the protocol. It has requested the withdrawal of 428,084 stETH in batches of 1,000. The stash is valued at approximately $784.7 million
Meme coins have been making waves in the cryptocurrency world, and it seems that April and May 2023 are the months for these coins. Despite being a parody coin ecosystem, meme coins have seen exponential growth and have been one of the highest profit grosses in an ecosystem impacted by macro-economic events. Saudi Pepe One
China’s State Councilor and Foreign Minister, Qin Gang, held talks with French Minister for Europe and Foreign Affairs, Catherine Colonna, in Paris last week to discuss their countries’ strategic partnership. Both Qin and Colonna viewed French President Emmanuel Macron’s state visit to China as a complete success. They stated that the French leader had an
The PEPE memecoin has become the latest sensation in the cryptocurrency world, with its frog-themed coin making many people millionaires overnight. However, the frenzy surrounding the coin has also led to the creation of numerous scam tokens. Scams and Frauds Blockchain security firm PeckShield has identified at least 10 memecoin scams, including PEPEDOGE, PEPEC, WOW,
Web3 payments refer to payments made using cryptocurrencies and blockchain technology. There are several benefits to using Web3 payments over traditional payment methods. Firstly, cryptocurrency payments are faster and more secure due to the immutable nature of blockchain technology. Secondly, they have lower transaction fees, which can significantly increase a merchant’s profit margins. Thirdly, they
Kim Nam-kuk, a representative in the South Korean National Assembly, has announced his departure from his political faction due to a growing scandal surrounding his alleged cryptocurrency dealings. In a Facebook post on Sunday, Kim stated that he would briefly leave the Democratic Party in order to not be a burden on the party and
Tether (USDT), a stablecoin issuer, has emerged as the preferred stablecoin amid the recent banking turmoil in the United States. According to the latest attestation report, Tether has recorded a net profit of almost $1.5 billion in Q1 2023. Tether’s Reserves and Investments Tether’s excess reserves reached an all-time high of $2.44 billion in Q1,