Investors are waiting anxiously for important economic data to help them navigate the volatile cryptocurrency market. Important data, such as the U.S. Consumer Price Index (CPI) and Producer Price Index (PPI), is set to be released soon and might affect market dynamics, especially given the current gloomy sentiment in the
May 12, 2024 2 mins read
Since its first week of trading, the Runes protocol’s activity has reduced substantially. Fewer new mints and wallets interacted with the protocol on May 10th compared to earlier times, indicating a significant drop in activity. Users can create fungible tokens on the blockchain using Runes, a new standard for Bitcoin
May 12, 2024 2 mins read
In 2030, according to Twitter co-founder Jack Dorsey, the price of Bitcoin might hit $1 million, and it could continue to rise in value beyond that. Dorsey gave an optimistic prediction about Bitcoin’s long-term price trajectory and explained his sudden exit from the board of BlueSky, a decentralized Twitter alternative
May 10, 2024 1 min read
Recently, Deutsche Bank’s research analysts sounded the alarm about the stablecoin industry, predicting that the majority of pegged currencies would eventually collapse. Deutsche Bank examined 334 currency pegs and discovered that just fourteen percent had prevailed so far. An analysis by the analysts concluded, “Some may survive, although most will
May 10, 2024 1 min read
Sam Altman’s Worldcoin has accomplished yet another great feat. The fact that the organization has expanded its World ID verification program to Peru demonstrates its determination to increase its influence throughout the world. With the support of Worldcoin’s Orb verification—an essential part of World ID verification—the project has made great
May 9, 2024 2 mins read
As optimism surged, Robinhood Markets Inc. reported higher-than-expected profits for the first quarter of 2024. The business revealed revised financial results for the first quarter in a press statement dated May 8. Robinhood reported record revenue of $618 million, a 40% rise year-on-year, and GAAP Diluted EPS of $0.18, as
May 9, 2024 1 min read
In April, it was reported that the TON Foundation and the HashKey Group had formed a strategic alliance to strengthen the TON Ecosystem’s capacity to administer its treasury in the Asia-Pacific area. The two organizations have joined forces in an attempt to improve the TON Ecosystem’s infrastructure and operational efficiency
May 8, 2024 1 min read
One of the top three cryptocurrency exchanges in the world by volume, Bybit, has integrated Ethena Labs’ synthetic dollar USDe to be used as collateral for trading activities. In the upcoming months, Bybit expects to offer more USDe spot pairings. With this, traders will be able to use Bybit’s Unified Trading Account
May 8, 2024 1 min read
Net outflows resumed on Tuesday, May 7, ending the Bitcoin ETF trend that had been going on for two consecutive days. Grayscale Bitcoin ETF GBTC saw a net outflow of $28.6 billion, while all US Bitcoin ETFs experienced a net outflow of $15.7 million, according to statistics from Farside Investors.
May 8, 2024 1 min read
South Korea’s charities and contribution campaigns may take a hit as digital currencies are not included in the country’s recently revised donation laws. According to Kyunghyang Shinmun, a local media site, the Ministry of Public Administration said on May 5 that they had submitted modifications to South Korea’s “Donations Act”
May 6, 2024 2 mins read
