A new report from leading blockchain analytics firm Chainalysis finds that while illicit cryptocurrency activity has declined since the start of the year, inflows into legitimate services are at their highest levels since the last surge in 2021.The company’s 2024 Cryptocurrency Crime Midterm Report states that “the total amount of illicit activity has decreased by 19.6% year-to-date, from $20.9 billion to $16.7 billion.”The report found that in addition to the decline in illicit activity, inflows into legitimate services are at their highest since the peak of the previous crypto bull market in 2021, when Bitcoin hit a previous high of…
Author: Crypto Flexs
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Tron’s network activity hit $435 million, surpassing Ethereum’s $364 million. Network revenue is expected to reach $2 billion by 2024. Tron (TRX) network adoption has grown exponentially over the past three months. Despite the high volatility of the cryptocurrency markets, network addresses, revenue, and activity have skyrocketed. The increase in Tron adoption comes from the growing preference for stablecoins on the network. Over the past 90 days, the Tron network has even surpassed Ethereum (ETH). Tron Surpasses Ethereum in Revenue Looking at the Token Terminal on AMBCrypto, the network hit a record $435 million in fees, while Ethereum lagged behind…
Darius Baru 16 Aug 2024 13:26 Robinhood Markets, Inc. (NASDAQ: HOOD) reported its July 2024 operating data, highlighting growth in fund clients, assets under custody, and trading volume. According to GlobeNewswire, Robinhood Markets, Inc. (NASDAQ: HOOD) has released its July 2024 operating results, showing notable growth in several key areas. Funding Clients and Assets in Custody At the end of July 2024, Robinhood reported 24.2 million funded customers, up approximately 70,000 from June 2024 and over 1 million from the previous year. Assets under custody (AUC) reached $144.5 billion, up 3% from June 2024…
Tier 1 • August 16, 2024 2:18 AM EDT Posted 1 minute earlier ~ in Updated: August 16, 2024 4:49 AM EDT Bitcoin scaling developers have released a new whitepaper detailing the second version of the Bitcoin Virtual Machine, BitVM2, and an updated BitVM Bridge. Co-author Alexey Zamyatin, co-founder of Bitcoin sidechain BOB, shared details about X on Thursday.The whitepaper details recent efforts to improve the efficiency of transactions on the Bitcoin network by improving transaction processing capabilities and, in some cases, updating encryption methods. The document states that the main goal of BitVM2 is to increase Bitcoin’s transaction capacity…
Rebecca Moen 16 Aug 2024 12:03 The Hong Kong Monetary Authority has warned the public about phishing scams using fake instant messages related to Bank of China (Hong Kong) Limited. The Hong Kong Monetary Authority (HKMA) has issued a public warning about phishing scams involving instant messages falsely claiming to be from Bank of China (Hong Kong) Limited. According to the HKMA, these fraudulent messages have been reported to the authorities and pose a significant risk to the public. Details of the phishing scam The HKMA warning highlights that fraudulent messages aim to trick…
The Bank of Ghana (BoG) has proposed new regulatory measures for digital assets following an extensive internal review of Bitcoin (BTC), Tether (USDT) and other cryptocurrencies.On August 16, the West African country’s central bank published draft guidelines on digital assets, seeking feedback from the public and industry stakeholders on its upcoming cryptocurrency regulations.According to BoG, data collected over a three-year period shows a significant increase in the appetite for cryptocurrencies in Ghana. As a result, the government plans to implement legislation targeting risks related to money laundering and terrorist financing, fraud, and other measures to protect consumers.The central bank has…
Louisa Crawford 16 Aug 2024 11:33 NVIDIA NIM microservices optimize throughput and latency of large-scale language models to improve the efficiency and user experience of AI applications. According to the NVIDIA Technology Blog, as large-scale language models (LLMs) continue to evolve at an unprecedented pace, enterprises are increasingly focused on building generative AI-based applications that maximize throughput and minimize latency. These optimizations are essential to lower operational costs and deliver superior user experiences. Key metrics for measuring cost effectiveness When a user sends a request to LLM, the system processes the request and generates…
Bitcoin’s price soared to $61,500 on August 13 after $2 billion worth of bitcoin was moved from the shuttered Mt. Gox exchange.A rally that saw major cryptocurrencies jump nearly 5% in just one hour has once again brought optimism to the market.Bitcoin gave up some of its gains for the day after dropping slightly from its daily high. However, according to CryptoSlate data, the flagship cryptocurrency is up 3.75% over the past 24 hours and is trading at $60,770 at the time of writing.Mount Goss ReactionBlockchain analytics firm Arkham Intelligence reported that more than 33,000 bitcoins, worth about $2 billion,…
Bitcoin broke $58,000 on August 16 after a “massive masterclass” that hit both bulls and bears hard.BTC/USD 1-hour chart. Source: TradingViewBTC Price Target Maintained Below $50,000According to data from Cointelegraph Markets Pro and TradingView, the Bitcoin (BTC) price has recovered 4.4% from its previous low of $56,150.The recent release of US unemployment data, coupled with the plunge in prices, has caused problems for retail investors, with both buyers and sellers liquidating.BTC Liquidation Heatmap (screenshot). Source: CoinGlassThis activity was captured by order book liquidity data from monitoring resource CoinGlass. In the 24 hours leading up to this writing, total BTC long…
Layer 2 altcoin MATIC recently crashed to a yearly low similar to 2022. A seasoned cryptocurrency analyst has come up with a bullish theory for MATIC under one condition. On-chain indicators show that despite a slight bounce, there is not enough buying pressure. Popular Layer-2 blockchain Polygon (MATIC) recently dropped out of the top 20 cryptocurrencies by global market cap. Despite having made several deals with big names like Google, Nike, Disney, Coca-Cola, and Starbucks, MATIC’s reputation is now overshadowed by its dismal recovery efforts.Why MATIC’s Rebound Rally Hasn’t StartedMATIC hit its yearly bottom last week, falling to $0.355 on…