Author: CMN

Despite the looming market volatility, DBS, a Singapore-based shopper financial institution, reported optimistic figures in the number of market participants and the quantity of cryptocurrency held on its digital trade. While the market is frequently associated with declining worth and volatility, DBS’s figures show that both the number of market participants and the amount parked in the DBS digital trade (DDEx) are increasing positively. According to reports, DBS observed an 80% year-on-year increase in the number of Bitcoin trades on the DDEx in 2022 while also observing a 65% increase in Ethereum trades. DBS’s digital asset custody solution more than…

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This week, stablecoins have received much attention, with Binance USD (BUSD) and USD Coin (USDC) at the center of negative regulatory-related headlines. First, a New York regulator ordered BUSD issuer Paxos to stop minting new Binance-branded stablecoin tokens. Then it was revealed that USDC was also under investigation by the US Securities and Change Fee (SEC), the same regulator that was suing Paxos for “unregistered securities” – the claim being that BUSD is security. Tether (USDT) is the largest stablecoin by market cap and did not perform poorly. Nonetheless, the uncertainty temporarily hampered the crypto markets, but Bitcoin unexpectedly surged…

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The cryptocurrency market cap increased by $70 billion in the last 24 hours and now stands at $1.11 trillion, up 6.56% from $1.04 trillion. During the reporting period, the market capitalizations of Bitcoin and Ethereum increased by 9.40% and 7.01%, respectively, to $473.45 billion and $205.73 billion. During the last 24 hours, the top ten crypto properties recorded beneficial properties. Bitcoin and Polygon both increased by about 10%. Others, such as Ethereum and Solana, saw benefits of over 6% each. Tether (USDT) and USD Coin (USDC) market caps increased to $69.80 billion and $41.50 billion in the last 24 hours.…

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The Sandbox announces a fantastic collaboration with the Saudi government to create metaverse experiences. This agreement marks an important milestone in the evolution of the virtual world and its role in the entertainment industry. It combines cutting-edge technology with the vision of an advanced government to provide users with a web3 experience. A collaboration for Saudi Arabia metaverse experiences The Sandbox’s collaboration with the Saudi government aims to create a metaverse that will provide users with new entertainment experiences. Furthermore, the project will combine cutting-edge technologies to create an interactive world. The government’s support ensures that the metaverse aligns with…

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Although Bitcoin is far from making everyone happy, several sources indicate that classic bull market structures are now in place on BTC price charts. The Bitcoin price evokes memories of the year 2020. BTC/USD has been trading in a narrow range since the Wall Street opening on February 3rd, according to data from Cointelegraph Markets Pro and TradingView. As traders waited for the weekend, macroeconomic data from the United States provided modest volatility but no overall trend change. Opinions on the longer-term outlook were mixed, with some believing there was little reason to believe Bitcoin’s rally would continue. “Seeing $50,000…

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Sberbank, Russia’s largest bank, is moving forward with its plan to launch its decentralized finance (DeFi) platform, with plans to trial the product in a few months. Sberbank’s Blockchain Lab product director Konstantin Klimenko announced on Feb. 3 that open trials of its DeFi platform will begin in May 2023, according to local news agency Interfax. Sberbank’s upcoming DeFi platform, which is currently in private beta, will be fully open by the end of April, allowing users to conduct the first commercial transactions, according to Klimenko. The executive stated that the blockchain platform will be compatible with the Ethereum blockchain,…

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The market capitalization of all staked crypto assets reaches almost $95 billion, with ETH and SOL leading the pack. Ethereum (ETH) takes the trophy for the most staked crypto asset following the successful Merge of the Beacon Chain consensus layer with the Ethereum execution layer on Sep. 15, 2022, information from StakingRewards.com reveals. The network with the second-highest staking transaction market cap is Solana, with $12.7 billion. Hot on its heels is Cardano with over $11 billion, Binance Smart Chain with over $5 billion, and Avalanche with about $4.6 billion in locked assets. Rounding off the top ten blockchains are Polkadot, Cosmos Hub, Tron, Polygon, and Near Protocol. Of the top ten staked cryptocurrencies by…

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Bitfarms finally turned on the Bitcoin (BTC) mining equipment for the primary time at midday this Friday, September 16 and, on this approach, its introduced mega-farm is now formally working in Córdoba The corporate specified that the agency will contribute, in principle, 10 MW of power, to the service of the network. The facilities, positioned within the heart of the country -specifically within the city of Rio Cuarto, will multiply their mining energy over time.  By 2023, the Canadian firm -whose founders are Argentinean- intends to achieve 50 MW, so as to contribute about 2.5 exahashes to the computing power of the Bitcoin network. Bitfarms:…

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Following the Ethereum Merge, Dogecoin now only trails Bitcoin as the largest proof-of-work cryptocurrency. Meme-inspired cryptocurrency Dogecoin (DOGE) is now officially the second largest proof-of-work crypto in terms of market cap, following the Ethereum network’s proof-of-stake (PoS) upgrade on Thursday.  Bitcoin (BTC), after all, remains miles ahead of Dogecoin’s market cap of $7.83 billion, although the well-followed memecoin is still comfortably forward of the third place PoW cryptocurrency Ethereum Classic (ETC) with a market cap of $4.69 billion, Litecoin (LTC) at $4.01 billion and Monero (XMR) at $2.65 billion. Ranking of PoW-Based Cryptocurrencies by Market Cap. Source: CoinMarketCap One Dogecoin fan appeared to be…

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The number of Indian users on cryptocurrency exchange Binance has soared after the Indian authorities began levying taxes on crypto transactions. In the meantime, daily trading volumes at some main India-based cryptocurrency exchanges are down over 90% because the new tax guidelines took impact. Binance Sees Record Number of Indian Users The number of Indian user sign-ups soared on global crypto exchange after a 1% tax deducted at source (TDS) went into effect in July, Bloomberg reported Tuesday. The number of Binance app downloads in India jumped to 429,000 in August, the publication added, noting that this number is the highest this…

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As expected by Senate laws, the director of the US Commodity Futures Trading Commission (CFTC), Rostin Behnam, stated that he has already approved his company to start getting ready to be the first and absolutely financed regulator for a significant portion of the cryptocurrency industry. In listening to that’s scheduled to happen on September 15, Behnam is anticipated to tell those who are members of the Senate Agriculture Committee:  “The volatility in the market, and its influence on retail clients – which can only worsen underneath current macroeconomic situations – emphasizes the quick want for regulatory readability and market protections,” according to…

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Someone paid a whopping 36 ETH to make history by minting the very first NFT on Ethereum after its transition to proof-of-stake. When the Ethereum network switched to a Proof-of-Stake consensus technique, it underwent its biggest upgrade in history. Following that, customers begin arising with inventive strategies to recollect the event and contribute to its history. On this occasion, a consumer spent over a whopping 36 ETH, or practically $60K at the present price rate, to create the first-ever non-fungible tokens on the Ethereum network’s PoS platform The Ethereum network went through its largest upgrade in history, transitioning to a…

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The Ethereum Merge has formally taken place, marking the total transition of the network to proof-of-stake (PoS). The Ethereum proof-of-stake consensus mechanism will minimize energy consumption by a massive 99.95% in comparison with the proof-of-work system. On Sept. 15 at 06:42:42 UTC at block 15537393, the long-awaited Merge saw the merging of the Ethereum mainnet execution layer and the Beacon Chain’s consensus layer on the Terminal Total Difficulty of 58750000000000000000000, which means the network will now not rely on a proof-of-work (PoW) consensus mechanism. Ethereum (ETH) price will get a slight pump following the Merge in hourly metrics, currently trading at around…

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BNB Chain ecosystem participants are set to have access to Google Cloud services in a newly formed collaboration. Binance’s smart contract blockchain platform BNB Chain has partnered with Google Cloud to bolster Web3 and blockchain startups. Startups which are at present building products and services on the BNB Chain blockchain will also be able to build on Google Cloud’s scalable, safe and open source infrastructure. It will see over 1,300 active, BNB Chain-based decentralized applications (DApps) from the world of decentralized finance (DeFi), Metaverse, blockchain games and nonfungible tokens given entry to the tools and infrastructure provided by each platform. These tasks…

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The main responsibility of JPMorgan’s new employees will be to concentrate on rising tech such as the Metaverse. The American banking giant – JPMorgan Chase – is in search of a Vice President (VP), Funds Enterprise Development Supervisor, to join its Technology, Media, and Telecom West Coast Payments Team to be a part of the Web 3, Crypto, Fintech, & Metaverse division. JPMorgan’s latest push toward the digital asset trade could be considered a surprise since its CEO – Jamie Dimon – is a fierce critic of bitcoin. Hiring a Crypto Person Based on a LinkedIn job offering, JPMorgan needs to…

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With a total search rating of 377, Singapore is the top-ranked nation amongst countries within the Ethereum blockchain’s upcoming The Merge, new Coingecko research has found. The identical research additionally discovered that among the many high eight ranked international locations, proof-of-work (PoW) associated searches are 169% greater than PoS (proof-of-stake) searches. Ethereum Merge Searches In accordance with new Coingecko research seeking to find out the international locations most within the Ethereum Merge occasion, Singapore tops the checklist “with a complete search rating of 377.” The nation was discovered to have the highest search ranges for the phrases “Ethereum Merge,” “ETH Traditional,” and “Ethereum”…

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New report by Nansen delves into the distribution of staked ETH, respective holders and potential ramifications as The Merge looms. A report from blockchain analytics platform Nansen highlights 5 entities that hold 64% of staked Ether (ETH) ahead of Ethereum’s highly anticipated Merge with the Beacon Chain. Ethereum’s shift from proof-of-work to proof-of-stake is ready to happen within the coming days after final updates and shadow forks have been accomplished in early September. The important thing element of The Merge sees miners now not used as validators, changed by stakers that commit ETH to maintain the community. Nansen’s report highlights that simply…

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NFT

In accordance to a new post on Monday, Starbucks says it will offer its U.S. members the ability to earn and buy digital collectible stamps within the form of nonfungible tokens, or NFTs. Dubbed “Starbucks Odyssey,” every collectible digital stamp has its ownership verified on the blockchain and can embrace some extent worth based on its rarity. As more stamps are collected, members’ points will increase, unlocking entry to unique experiences. The nonfungible tokens, or NFTs, are minted on a proof-of-stake blockchain built by Polygon. The iconic coffee chain says that rewards vary from receiving a digital espresso martini-making class to accessing unique merchandise…

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The Indian crypto exchange WazirX was under investigation by local authorities for cash laundering allegations which induced a freeze on over $8.1 million in bank account funds. The Enforcement Directorate of India (ED) unfroze the bank accounts of the Indian crypto exchange WazirX, according to a press release from the exchange released on Monday. WazirX says it has been cooperating with local authorities throughout their Anti-Money Laundering (AML) investigation by offering all the needed paperwork and details requested. The investigation focused 16 fintech firms and instant loan apps, a few of which solicited providers from the exchange. The exchange, however, said it…

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The venture arm of crypto exchange FTX is ready to accumulate 30% of another investment firm SkyBridge Capital, the companies revealed Friday. SkyBridge, founded by Anthony Scaramucci in 2005, will use a part of the proceeds to purchase $40 million in cryptocurrencies for its company balance sheet as a long-term investment, with the remaining set aside to fund new initiatives. An SEC-registered investment adviser, SkyBridge managed roughly $2.5 billion, as of June 30, including about $800 million in digital assets. Scaramucci known as FTX CEO Sam Bankman-Fried a “visionary” in a statement, noting that the enterprise will stay a diversified asset management firm that invests…

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