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Stablecoin Economy Shrinks by $7.3 Billion in 2023, USDC and BUSD Record Mass Redemptions
21.5.2023
From the beginning of this year, the crypto economy has surged by 41.77%, reaching a current market capitalization of $1.17 trillion. However, amidst this growth, the stablecoin economy experienced a substantial loss of $7.3 billion within a span of 140 days. Stablecoins Experience a Significant...
DAO Treasuries Surge: From $8.8B to $21.5B in 90 Days, Marking a 144% Increase
20.5.2023
According to archived records, 4,833 decentralized autonomous organization (DAO) treasuries held $10.8 billion on April 15, 2022. Over the course of 309 days, by February 19, 2023, the treasuries dwindled to $8.8 billion. However, during the past 90 days, there has been a significant surge, with...
Amid ‘Regulatory Apparatus’ Against Crypto, Paul Tudor Jones Maintains Bitcoin Allocation
16.5.2023
In a recent interview, the renowned investor Paul Tudor Jones expressed his perspective on bitcoin, acknowledging that there might be regulatory challenges ahead. However, Jones emphasized his unwavering commitment to the dominant cryptocurrency, affirming that he maintains “a small...
Bitcoin, Ethereum Technical Analysis: BTC Rebounds From 2-Month Low, Climbing Back Above $27,000
15.5.2023
Bitcoin was back in the green on Monday, as prices climbed back above the $27,000 level to start the week. Prices slipped to a two-month low over the weekend, however momentum has marginally shifted. Ethereum was also higher today. Bitcoin Bitcoin (BTC) jumped back above the $27,000 level to start...
Bitcoin Makes Progress in Clearing Backlog, but Lightning Network Capacity and Channels Dropped Amid Congestion
14.5.2023
In the past week, the Bitcoin network has made progress in resolving its congestion issues. On May 7, 2023, the number of unconfirmed transactions reached an all-time high of over 500,000 transfers, causing a major backlog. However, as of today, that number has been reduced to 263,406. Currently...
Ethereum Patch Set to Fix Transaction Finality Challenges After Second Bout Disrupts Network
13.5.2023
On Friday, Ethereum’s Beacon chain encountered yet another bout of transaction finality challenges, reminiscent of the glitch experienced on May 11, 2023. For over an hour, the blockchain stopped the process of finalizing blocks. However, Superphiz, an Ethereum developer, emphasized that...
Gbitcoins – Providing Top-Notch Cloud Mining Services
12.5.2023
Cloud mining is one of the newest, most innovative developments in the cryptocurrency space in recent years. It provides an affordable and more accessible entry point into the world of crypto mining. Various cloud mining sites have become popular as the demand for cryptocurrency mining grows....
Bitcoin Network Starts to Clear Congestion, Onchain Fees Drop by 90%
11.5.2023
On May 7, 2023, the Bitcoin network was plagued with an overwhelming 500,000 unconfirmed transactions, causing a major bottleneck in the system. However, the good news is that the congestion has been clearing, resulting in a significant reduction in onchain fees, which have now dropped below $5....
Warren Buffett Sees ‘No Option’ Other Than US Dollar as Reserve Currency, but Warns Fed Can’t ‘Just Print Money Indefinitely’
8.5.2023
Warren Buffett, CEO of Berkshire Hathaway and one of the most renowned investors in the market, stated that he saw no viable option to become the world’s reserve currency besides the U.S. dollar. However, he warned about the dangers that printing too much money could bring to the strength...
Bitcoin’s BRC20 Token Economy Skyrockets 192% to $279 Million in Just Four Days
7.5.2023
Four days ago, the market capitalization of all the BRC20 tokens built on top of the Bitcoin network was a modest $95 million. However, over the past four days, the BRC20 market valuation has seen tremendous growth, increasing by 192% and reaching $279 million. More Than 13,000 BRC20 Tokens Built...
NFT Sales See Modest Increase of 1.46% to Reach $149M in Past Week
6.5.2023
In the past week, sales of non-fungible tokens (NFTs) have increased by 1.46%, raking in a total of $149,312,180. However, while the number of NFT buyers has risen by 22.48%, the number of NFT transactions has decreased by 8.78% compared to the previous week. Azuki Emerges as Top-Performing...
ECB Raises Interest Rates by 25bps Amid ‘Too High’ Inflation, ‘No Pause,’ Lagarde Says
5.5.2023
The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator insisting it will continue to seek a “timely...
Bitcoin Miners Breathe a Sigh of Relief as Difficulty Drops 1.45% After Five Consecutive Increases
4.5.2023
Bitcoin’s network has been putting miners through the wringer lately, with five straight difficulty increases that had them on edge. However, on May 4, 2023, at block height 788,256, the network difficulty level took a dip, dropping by 1.45% and bringing the overall difficulty down to 48.01...
Stabilizing the Banking System: Biden Reassures Public Amid First Republic Bank Collapse, but Warns of National Debt Default
1.5.2023
Amid the collapse of the second, third, and fourth largest banks in American history, U.S. president Joe Biden reassured the public that the country’s banking system remains sturdy. However, the president also acknowledged the “threat by the speaker of the House to default on...
Bank of America Strategist Predicts Gold Could Reach $2,500 per Ounce in 2023
28.4.2023
A Bank of America (BOFA) commodity strategist has postulated that gold, should it continue to flourish in 2023, could pave the way for a climb to $2,500 per ounce. Presently priced at $1,983 per unit, the precious metal remains just shy of the $2,000 threshold. However, if it were to achieve...
Pepe Token Surges 77% in 24 Hours, Leading the Top 10 Meme Coins’ Market Gains
23.4.2023
In the aftermath of a downturn in the wider crypto market, the top crypto assets bitcoin and ethereum have each risen modestly, between 1.2% to 1.6%, over the past 24 hours. However, the meme token pepe (PEPE) has surged 77% against the U.S. dollar, and its market capitalization has swelled to $141...
Crypto AI Economy Suffers $730 Million Loss in 2 Months as Interest Wanes
22.4.2023
Less than two months ago, a collection of 74 listed cryptocurrencies centered around artificial intelligence (AI) amassed an impressive $4 billion valuation. However, the intervening weeks have seen a sharp decline in crypto-AI economy gains, with losses of $730 million. The three most prominent...
Citi Analysts Predict ‘Near-Perfect Conditions’ for Silver’s Ongoing Bull Market; Experts Suggest $30 an Ounce a Possibility
22.4.2023
The price of silver fell 2.85% against the U.S. dollar last week. However, taking a broader perspective, the precious metal has made significant gains this year. Over the past six months, silver has risen more than 29% against the greenback, and as of April 22, 2023, it was hovering around $25.08...
White House Economist Warns China Wants to Weaken US Dollar’s Reserve Currency Status — Senator Says Biggest Threat Comes From Within
22.4.2023
In a congressional hearing, White House economist Jared Bernstein says there’s “some evidence” that China wants the U.S. dollar to lose its status as the world’s reserve currency. However, U.S. Senator Bill Hagerty stressed that the biggest threat to the USD dominance comes from within. China Wants...
Biggest Movers: DOGE Sellers Scupper Rebound, as LTC Remains Near 3-Week Low
20.4.2023
Dogecoin rebounded from Wednesday’s drop, with the meme coin briefly climbing back above $0.090 in today’s session. However as the day progressed, bearish sentiment heightened, with price declining. Litecoin was also down today, and continues to trade near a multi-week low. Dogecoin...