Despite price volatility, Bitcoin is seeing a surge in trading volume thanks to ETFs. Both long and short liquidations can trigger large movements in price in the future. Despite the massive fluctuations in Bitcoin (BTC) price, overall interest in BTC has remained high. BTC’s surge in liquidity demonstrated growing interest in the currency. Looking at the current status of ETFs According to recent data, approximately $1 billion worth of Bitcoin ETF trading volume has been seen each week since its launch, totaling $8.11 billion. Bitcoin experienced a 15% peak-to-trough retracement this week, marking its second biggest decline since the ETF…
Author: Crypto Flexs
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Uniswap Labs, the developer of Uniswap, one of the leading decentralized exchanges (DEXs), said the number of users utilizing its platform on Optimism and Base has more than doubled in the past year. More swapping occurs in fundamentals and optimism Optimism and Base, popular layer 2 scaling solutions for Ethereum, offer distinct advantages to traders. When exchanging tokens on Uniswap deployed on one of these platforms, traders can benefit from significantly lower transaction fees. Uniswap Lab report There has been a noticeable surge in swappers on Optimism and Base. Over the past year, that number has doubled from 124,970 in…
South Korea asks Interpol for helpSouth Korea is stepping up efforts to extradite Terraform Labs CEO Kwon Do-do to face legal charges in the country. This comes after a successful appeal against extradition from Montenegro to the United States, shifting the focus to South Korea’s claims against him. The National Police Agency has requested assistance from Interpol to extradite Mr. Kwon. The Ministry of Justice, Ministry of Foreign Affairs, and National Police Agency are cooperating in this case. The legal battle resulted in Terra Luna’s collapse, resulting in massive financial losses worldwide. The outcome of this case could set an…
HKMA launches Project Ensemble, a key move to advance the tokenization market and explore wCBDC applications in the Hong Kong financial sector. The Hong Kong Monetary Authority (HKMA) has taken a major leap forward in financial technology by unveiling Project Ensemble, a new initiative aimed at fostering Hong Kong’s burgeoning tokenization market. This project marks a milestone in integrating traditional banking with the innovative capabilities of blockchain technology. The project ensemble will explore the potential of wholesale central bank digital currencies (wCBDCs) as a foundation for asset tokenization. The plan is to create a wCBDC sandbox, which will be launched…
Ethereum is emerging as the vanguard of innovative financial systems. Second-value blockchain advocates extol the virtues of smart contracts and envision a future characterized by market transparency, tokenized funds, and fast settlement times. At the time of writing, Ether was trading at $3,780, up 2% and 8% on daily and weekly time frames, according to data from Coingecko. Ethereum’s untapped institutional potential Experts argue that Ethereum has yet to go through an institutionalized hype cycle and is lagging behind the enthusiasm witnessed by Bitcoin. Robby Greenfield, visionary co-founder and CEO of Umoja Labs, predicts a significant increase in institutional interest…
George Town, Grand Cayman, March 7, 2024, Chainwire Zircuit, a zk rollup with parallel circuits and sequencer-level AI-assisted security, today announced that its staking program has surpassed $500 million in TVL. Currently in the testnet phase, Zircuit is poised to reach its first mainnet TVL, outperforming leading blockchains such as Linea, Manta, Mantle, Near, Scroll, Aptos, and zkSync. Next week, Zircuit will integrate Ethena, adding to the growing list of Zircuit Stake supported protocols. Users who stake USDe on Zircuit will earn Zircuit points and 7x shards (Ethena points). Ethena is a crypto-based solution for synthetic dollars that are fully…
The Securities and Exchange Commission (SEC) is determined to achieve a decisive victory in the lawsuit filed against Coinbase in New York federal court. To that end, it is trying to leverage a recent ruling in a separate case from a California court thousands of miles away from the current legal proceedings.But lawyers told The Block that regulators’ legal strategy may not win. “It’s a bit aggressive to say that there is case law that says crypto assets are securities based on insider trading incidents,” Terrence Yang, an attorney and managing director at Swan Bitcoin, told The Block.Last June, the…
Problems facing Worldcoin, a cryptocurrency project led by Sam Altman another setback As Spain takes steps to block the venture. Spain’s data protection regulator, AEPD, ordered Worldcoin to immediately stop collecting personal data in the country and stop using data it has already collected. Concerns About Worldcoin Eye Scan Data Collection According to the Financial Times report, AEPD expressed concerns about the project’s use of eye-scanning “spheres” to collect customer data. Regulators are expected to announce “precautionary measures” on Wednesday and Worldcoin has been given 72 hours to demonstrate compliance with the order. Worldcoin, co-founded by Altman in 2019, offered…
Compass Mining has emerged as an innovative leader in the cryptocurrency mining services industry, enabling individuals and institutions to engage in Bitcoin mining without complex hardware management. The cryptocurrency industry has been witnessing exponential growth over the past few years with various sectors thriving, including the pivotal sector of Bitcoin mining. Among the companies pioneering this space, Compass Mining has established itself as a significant service provider providing solutions that democratize access to Bitcoin mining operations. This article examines Compass Mining’s business model, its impact on the mining landscape, and its broader implications for the cryptocurrency ecosystem. The emergence of…
Cryptocurrencies have taken the world by storm in recent years, with Bitcoin leading the way as the most well-known digital currency. However, as the market continues to evolve, new and innovative cryptocurrencies are emerging, each with unique features and growth potential. One of the cryptocurrencies that is making waves in the industry is GIZMOcoin. What is GIZMO Coin? GIZMOcoin is a decentralized digital currency that operates on a peer-to-peer network, allowing secure and anonymous transactions to take place without the need for intermediaries such as banks or financial institutions. This currency is based on blockchain technology, meaning all transactions are…