Cosmos-based Layer-1 blockchain, Canto, has experienced a notable network outage over the weekend due to a critical “consensus issue” in their blockchain. As part of resolving the issue, Canto has scheduled an upgrade aimed at addressing the problem today. The outage was followed by the “Callisto” software upgrade. This resulted
In 2024, Bitcoin miners have encountered significant financial challenges, with daily revenue dropping to an unprecedented low of $2.5 million. This decline marks the lowest point in the year and reflects the increased difficulty of mining operations. According to the information on Blockchain.com, the mining revenue has dropped to -0.06%.
US spot Ethereum ETFs after the July 23 launch were expected to draw significant inflows similar to the spot Bitcoin ETFs. The digital assets failed to meet analysts’ expectations as it witnessed mounting outflows following its initial launch day. However, the past week has witnessed for the first time weekly
As the volume of transactions on layer-2 networks keeps increasing, the median price of sending a transaction on the Ethereum blockchain has fallen to its lowest point in five years, with low-priority transactions falling to about 1 gwei or even lower. On August 10th, Dune Analytics data showed that the
August has been challenging for altcoins, with Ethereum, the leading altcoin, hitting a seven-month low of $2,111. Despite the market downturn, significant whale movements are drawing attention. A prominent ICO-linked whale recently deposited another 5,000 ETH ($13.2 million) to OKX, just 12 hours before Ethereum’s price dropped further. Since July
Zooko Wilcox, the renowned founder of the privacy-focused cryptocurrency Zcash, has recently joined forces with Shielded Labs, a blockchain development company. Jason McGee of Shielded Labs proposed his idea of starting this independent organization to help Zcash a year ago i.e., in Jan 2023. This strategic move comes as Wilcox
As Bitcoin (BTC) faces a notable dip, the Solana-based memecoin Dogwifhat (WIF) has recorded significant volatility with a double-digit loss. In the last 24 hours, WIF displayed a sharp decline of over 13.3%, reflecting the broader impact of Bitcoin’s downturn on the memecoin market. The memecoin, which fell to $1.09
One of the largest cryptocurrency exchanges, Binance was banned in Venezuela due to the presidential disputes. In the past few weeks, the nation has banned several prominent platforms including Elon Musk founded X. The Binance ban occurred on Friday, following which the anti-censorship organization, “VE sin Filtro” reported it on
Solana, one of the leading altcoins, is facing an 8% decline amid an overall bearish market. The total cryptocurrency market cap has dropped by 4%, with Bitcoin, the dominant cryptocurrency, experiencing a similar 4% decline, currently trading at $58,601. Despite the downturn, Solana has shown resilience in the past week.
The beginning of August witnessed a spur of activity within the crypto sector. While most of the market attention was focused on the first-week market crash, regulatory activities, and notable partnerships took place. Meanwhile, this following week exhibits price revivals from key cryptocurrencies as Bitcoin retracted to $60K. Leading altcoin
