reporter Posted: September 16, 2024 The new week saw more long-term liquidations. The total market capitalization remained at around $2 trillion. The cryptocurrency market experienced significant liquidations last week as prices fluctuated. Short traders in particular were hit hard by these liquidations as Bitcoin (BTC) showed positive moves. Meanwhile, Mimecoin showed a cautious mood about the future of the cryptocurrency market as its market capitalization continued to decline. Cryptocurrency Weekly Liquidation in the Future According to data from Coinglass, over $690 million in liquidations occurred last week due to market volatility, highlighting the heightened risk and uncertainty in the cryptocurrency…
Author: Crypto Flexs
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12 September 2024 Ethereum Open Community Projects L2 Standards Working Group Vitalik Buterin identified three crucial transitions for Ethereum: scaling through L2 rollups to reduce costs, enhancing wallet security via smart contract wallets for better security and user experience, and advancing privacy through privacy-preserving mechanisms. This article explores how integrating W3C Decentralized Identifiers (DIDs) and Verifiable Credentials (VCs) can address some of these challenges by improving the management of identities, keys, and addresses, leveraging existing decentralized identity solutions to aid Ethereum’s transitions efficiently to move to a more L2-based world. As Vitalik Buterin pointed out in a series of 2023…
According to a recent report from CoinShares, inflows into cryptocurrency investment products rebounded last week, with Bitcoin leading the way with net inflows reaching $436 million.Cryptocurrency funds from asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares saw positive inflows in the week ending September 13, after two consecutive weeks of outflows. CoinShares believes this phenomenon can be explained by market expectations of a rate cut by the U.S. Federal Reserve. In the latest “Digital Asset Fund Flows Weekly Report,” CoinShares Research Director James Butterfill writes:”We believe the surge in inflows over the weekend was due to a…
Former Celsius CEO Alex Mashinsky faces a possible prison sentence of more than 100 years, so he has called on six witnesses who worked at the cryptocurrency company to testify.Mashinsky was arrested last year. The prosecution said he get scammed defrauded customers and misled Celsius about its profitability. In a memorandum filed by his attorneys on Friday, he asked the New York District Court to allow witnesses from the cryptocurrency lender’s chief financial officer to its chief revenue officer to testify in his criminal trial. Many of the proposed witnesses live outside the United States, they said.Mashinsky’s attorney argued in…
Tether’s US dollar stablecoin has seen significant adoption over the past two years and now controls two-thirds of the overall stablecoin market.According to Token Terminal, Tether USDT (USDT) has grown its market share by more than 20% over the past two years, capturing more than 75% of the overall stablecoin market.The on-chain data platform said in a September 16 post:“Tether has grown its market share from 55% to 75% over the past two years. Tether’s USDT supply is $118 billion. Tether’s market share is 75%.”Tether Market Share. Source: Token TerminalStablecoins are a major entry point from fiat currencies to the…
Luisa Crawford Sep 16, 2024 16:07 Explore the critical differences between Ethereum ETPs and ETFs, their implications for the crypto industry, and the broader financial market. Following the listing of Bitcoin exchange traded products (ETPs) earlier this year, U.S. stock exchanges made available ETPs based on Ether, the asset native to the Ethereum blockchain, for the first time on July 23. Investors can now buy, sell, and invest in shares of products that hold Ether (ETH) on markets such as NASDAQ and the New York Stock Exchange. The significance of this development cannot…
Residents of Stokmarknes, a town in northern Norway, have been trying to wipe out their community. Bitcoin Bitcoin -4.34% A mining facility was closed for three years after complaints about noise from its cooling fans.According to local news agency NRK, on Friday they celebrated the closure of the site managed by KryptoVault. The municipality of Hadsel, which includes the town, initially approved the facility but failed to renew the permit after the company’s temporary permit expired. KryptoVault is reported to have gone bankrupt in September 2023, but the Stokmarknes site remained in operation until it was shut down last week.”It’s…
Ted Hisokawa 16 Sep 2024 14:12 The BNB Chain’s Most Valuable Builder (MVB) program is back for Season 8. The goal of the program is to accelerate Web3 innovation through enhanced support and resources. The BNB Chain’s Most Valuable Builder (MVB) program has officially launched its 8th season, with the goal of further accelerating innovation within the Web3 ecosystem. According to the BNB Chain Blog, the program is designed to support early-stage developers and projects with resources, mentorship, and growth opportunities.Program Details and ApplicationApplications for MVB Season 8 are now open, with the deadline…
Despite the overall cryptocurrency market downturn on Monday, UXLINK’s native token has surged 102% this week after Binance announced it would list UXLINK on its futures trading platform. Key ContentsThe UXLINK token has seen its weekly price increase extend to 102%, fueled by Binance’s announcement that it will list the token on its futures trading platform.Open interest (OI) in UXLINK futures contracts reached $47 million.UXLINK recorded $895 million in derivatives volume on Monday. While the overall cryptocurrency market was down on Monday, the native token of the Web3 social platform UXLINK extended its weekly price gains by 102%. This surge…
Exodus Movement (ticker: EXOD), a publicly traded fiat-to-cryptocurrency services company, is partnering with blockchain hardware manufacturer Ledger to launch a new cryptocurrency swap aggregator, the two companies announced in a press release Tuesday.The XO Swap feature is integrated into the Ledger Live application, facilitating connections with third-party exchange API providers, enabling swaps between thousands of cryptocurrency pairs directly from users’ self-custody wallets.Ledger, one of the largest hardware wallet providers, is increasingly embracing the multi-chain cryptocurrency industry and building services to reduce the decentralization of individual blockchains. “This integration prioritizes user control and security, differentiating it from centralized trading platforms,” the…