The Ropsten testnet on the Ethereum network is ready to set the stage for the “first dress rehearsal” of the Merge to adopt the Proof-of-Stake (PoS) consensus mechanism. Core Ethereum developer Tim Beiko announced on May 31 that a new Beacon Chain for Ropsten has been launched. It will serve as the precursor for the
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India’s economic affairs secretary has reportedly revealed that the government’s consultation paper on cryptocurrency is “fairly ready.” He explained that the Indian government is looking at “a global paradigm on digital assets,” emphasizing that “There has to be a broad framework on which all economies have to be together.” Economic Affairs Secretary Ajay Seth on
After creating the dubious record of nine successive red weekly closes, Bitcoin (BTC) is attempting to make amends by starting a price recovery to end the losing streak. Analysts have repeatedly said that investors should not fear a bear market because it is one of the best times to invest in fundamentally strong projects in preparation
On May 30, the total crypto market capitalization gained 4% and currently is within reach of a $1.3 trillion market capitalization. The move was enough to erase the losses from the previous 7 days and was driven mainly by Bitcoin’s (BTC) 4.9% gain during that time frame. Total crypto market cap, USD billion. Source: TradingView
One of the world’s biggest cryptocurrency exchanges, Binance, strengthened its European presence by obtaining registration and regulatory approval in Italy. A Binance company had previously registered to operate in France at the beginning of May. On Friday, the exchange’s official blog reported that Binance Italy has received regulatory approval in the country through registration as
On May 30, the cryptocurrency market experienced a much-needed bounce that saw Bitcoin (BTC) climb above $30,900 and Ether (ETH) rally 5.84% to $1,930, but analysts warn that it could be too early to expect a reversal. ETH/USDT 1-day chart. Source: TradingView Here’s a look at what several analysts are saying about the outlook for
Bear markets are typically marked by a capitulation event where discouraged investors finally abandon their positions and asset prices either consolidate as inflows to the sector taper off or a bottoming process begins. According to a recent report from Glassnode, Bitcoin hodlers are now “the only ones left” and they appear to be “doubling down
Quick take: Over 12 million Ethereum tokens have been pledged towards ETH 2.0 so far. Deposits from more than 73,000 addresses were recorded by Monday. The staking rate hit 10.72% over the weekend. More than 1/10 of ETH’s circulating supply is now locked up for The Merge. The switch from Proof-of-Work to Proof-of-Stake might happen
Generating a yield on crypto is increasingly tricky. The Terra ecosystem implosion — where up to $50 billion was wiped out — led to a decline in decentralized finance (DeFi) protocols offering interest. At the other end of the table, centralized finance, or CeFi, where all processes are rooted through a central body, has endured a comparatively
Paraguay is viewed by many as a potential hot spot for cryptocurrency adoption due to low electricity costs and relatively soft taxation. The government has recognized this opportunity by pushing forward new legislation around digital assets. On May 25, a bill that regulates cryptocurrency trading, mining and custody was approved by the Paraguayan Congress on
These can be anxious times for holders of cryptocurrencies, especially those who entered the market in late 2021 when prices were cresting. Bitcoin (BTC), Ether (ETH) and especially altcoins now appear to be undergoing a major reset, down 50% or more from November highs. Some worry that a whole generation of crypto adopters could be
sponsored Frodo Tech aims to create an environmentally-friendly blockchain ecosystem based on a unique cryptocurrency service that all the people in the world can access, without any limitations based on race, region or country. Frodo Will Have No Limitations and No Mining Frodo Tech is an IT and Financial blockchain services company based in Auckland,
The South Korean government continues to investigate Terraform Labs, the firm behind the Terra Network as well as Luna (LUNC) and Terra USD (UST) tokens, by reportedly summoning subpoenas to employees. South Korean authorities have reportedly summoned all employees at Terraform Labs as part of a full-scale investigation of the collapse of UST and LUNC,
Bitcoin (BTC) is bouncing back this week as a sudden surge challenges weekly highs. In what should provide some desperately needed confidence to bulls, BTC/USD is back at weekly highs on May 30, gaining several percent overnight. In contrast to recent weekly closes, the May 29 candle managed to limit the downside and reverse course immediately
Unwithered by the ongoing bear market, Bitcoin’s (BTC) underlying architecture continues to outperform itself — further securing, decentralizing and speeding up the impenetrable peer-to-peer network. The same holds true for the Bitcoin Lightning Network (LN). The Bitcoin Lightning Network capacity attained an all-time high of 3915.776 BTC as evidenced by data from Bitcoin Visuals, displaying a commitment
The nonfungible token (NFT) game Stepn will ban users in mainland China in an attempt to follow Chinese regulatory requirements. The company’s uncertainty has been fueled by rumors that it will be forced to leave mainland China. STEPN is a popular “move-to-earn” game based on Solana and BNB Chain, created by two Chinese emigrants now
