Hyped AVAX Buried Under Avalanche of Dumps

After announcing yesterday that its mainnet is now live, smart contract platform Avalanche’s native AVAX token quickly got listed on major exchange Binance, and immediately soared in price. However, the fun did not last long, and the token has over the past 24 hours taken a hard hit across several exchanges. Although the immediate reaction among Binance traders was to

Hyped AVAX Buried Under Avalanche of Dumps

After announcing yesterday that its mainnet is now live, smart contract platform Avalanche’s native AVAX token quickly got listed on major exchange Binance, and immediately soared in price. However, the fun did not last long, and the token has over the past 24 hours taken a hard hit across several exchanges. Although the immediate reaction among Binance traders was to

Crypto.com Rolls Back ‘Illegitimate Trades’ After System Maintenance

Cryptoasset-powered debit card and trading services firm Crypto.com’s exchange is back online again after an issue during system maintenance caused a prolonged outage for the exchange this week, with some users reportedly being able to take advantage of the situation to “manipulate” trades. According to Crypto.com’s CEO Kris Marszalek, the exchange suffered

Crypto.com Rolls Back ‘Illegitimate Trades’ After System Maintenance

Cryptoasset-powered debit card and trading services firm Crypto.com’s exchange is back online again after an issue during system maintenance caused a prolonged outage for the exchange this week, with some users reportedly being able to take advantage of the situation to “manipulate” trades. According to Crypto.com’s CEO Kris Marszalek, the exchange suffered

No Plans to Sell Bitcoin ‘On Short Notice,’ MicroStrategy CEO Confirms

Despite worries in the cryptoverse that the US-based software firm MicroStrategy might not be such a strong holder of bitcoin (BTC) as many had hoped, the company’s CEO said that he has been misrepresented by the media, and that he has no intention of selling bitcoin “on short notice.” The confusion regarding what MicroStrategy CEO & co-founder Michael

Volatility Expected Ahead of Major Bitcoin and Ethereum Options Expiry Day

Both the bitcoin (BTC) and ethereum (ETH) markets could be in for some extra volatility as options contracts worth more than BTC 88,000 (USD 923m) and ETH 460,000 (USD 157.6m) are set to expire this Friday, analysts warned once again, while the previous large expiration failed to move the market. According to crypto derivatives exchange Deribit, the coming Friday marks an

Two US Regulators Have Good News For Stablecoins

After several years of operating in a regulatory grey area, US national banks and federal savings associations are now officially permitted to engage with fiat-backed stablecoins, the Office of the Comptroller of the Currency (OCC) has clarified. Meanwhile, the Securities and Exchange Commission (SEC) also released a statement where it admitted that stablecoins are not

UNI Token Crashes Despite Uniswap’s Rise as Largest DeFi Protocol

Despite Uniswap climbing to become the largest decentralized finance (DeFi) protocol by total value locked (TVL), its newly issued UNI token crashed in the market today along with many other DeFi tokens. As of press time (12:02 UTC), UNI traded at USD 4.35, having gone down 23.35% over the past 24 hours. And despite the token soaring more than 186% from the launch price

World’s Largest Sovereign Wealth Fund Indirectly Owns Millions in Bitcoin

Adobe Aliaksandr Marko The Norwegian Government Pension Fund, known as the world’s largest sovereign wealth fund, indirectly owns nearly 578 bitcoin (BTC) - currently worth USD 6.2 million - through its investment in MicroStrategy, the publicly traded US-based software company that made headlines earlier this year after it invested a large chunk of its cash reserves in bitcoin. The Norwegian

4 Reasons Bitcoin May Hit USD 1-5 Trillion Market Cap in 10 Years

Despite innovations in mostly Ethereum-based decentralized finance (DeFi) stealing much of the attention at the moment, New York-based investment company ARK Invest Management claims that bitcoin (BTC) is “the most compelling monetary asset since gold,” capable of reaching a market capitalization of USD 1 -5tn in the next five to ten years. The bullish prediction

Coinbase Pro Introduces Withdrawal Fee as Ethereum Fees Rise Further

After previously absorbing the cost of users making withdrawals of cryptoassets from Coinbase Pro, the US-based exchange has now told its customers that a withdrawal fee has been introduced for all cryptoassets. The move follows a large spike in transaction fees on the Ethereum (ETH) network, which earlier this month hit all-time highs with a median fee of over USD 8. In

Coinbase Pro Introduces Withdrawal Fee as Ethereum Fees Rise Further

After previously absorbing the cost of users making withdrawals of cryptoassets from Coinbase Pro, the US-based exchange has now told its customers that a withdrawal fee has been introduced for all cryptoassets. The move follows a large spike in transaction fees on the Ethereum (ETH) network, which earlier this month hit all-time highs with a median fee of over USD 8. In

Bitcoin Strongest In North America, Asia More Open to Stablecoins, Altcoins

Bitcoin (BTC), the first and largest cryptocurrency, has the strongest positions among crypto users in North America, while stablecoins and altcoins get more attention in Asia, a new report from crypto analysis firm Chainalysis showed. According to the report, BTC made up 72% of the crypto transfer value in North America, where stablecoins only made up 17%, and other

Bitcoin Soft Despite Fed Plan to Keep Rates at Zero For 3 More Years

Despite the US Federal Reserve (Fed) is planning to keep interest rates at or near 0% for at least another three years, while also keeping the door open for inflation above its stated 2% target, bitcoin (BTC) traders did not seem moved by the somewhat expected announcement. BTC touched a high of just over USD 11,000 before it again retraced lower in the hours following the

Ethereum Fees Spike as Uniswap Launches Token

Today, the Ethereum (ETH) network got busier than usual as thousands of the Uniswap decentralized exchange users rushed to claim their share the DeFi protocol’s new governance token UNI. As announced on Uniswap’s blog, the UNI token went live yesterday, with 1 billion tokens minted at genesis. Out of these, 60% of tokens are allocated to Uniswap community members, while

A New ‘Wave of Regulatory Obligations’ Over Crypto Players in EU

In what is described as the most comprehensive regulatory framework for cryptoassets to date, a leaked EU draft document reveals that both issuers of cryptoassets and providers of related activities will have to make crucial choices as they face what is described by industry experts as a “wave of regulatory obligations.” The leaked document, titled Markets in

A New ‘Wave of Regulatory Obligations’ Over Crypto Players in EU

In what is described as the most comprehensive regulatory framework for cryptoassets to date, a leaked EU draft document reveals that both issuers of cryptoassets and providers of related activities will have to make crucial choices as they face what is described by industry experts as a “wave of regulatory obligations.” The leaked document, titled Markets in

While DeFi Tokens Are Selling Off, Total Value Locked Jumps

After seeing a near-meteoric price rise this summer, the tokens of many well-known DeFi protocols were hit by a wave of selling pressure today, causing most tokens in the space to drop between 5% and 20% over the past 24 hours. However, the total value locked in DeFi jumped sharply today. As of press time (11:06 UTC), nearly all tokens listed under the “DeFi” tab on

While DeFi Tokens Are Selling Off, Total Value Locked Jumps

After seeing a near-meteoric price rise this summer, the tokens of many well-known DeFi protocols were hit by a wave of selling pressure today, causing most tokens in the space to drop between 5% and 20% over the past 24 hours. However, the total value locked in DeFi jumped sharply today. As of press time (11:06 UTC), nearly all tokens listed under the “DeFi” tab on

China’s Digital Yuan to Defend State Monopoly on Money – Central Bank

Central bank digital currencies (CBDCs) like the Chinese digital yuan project may well bring centralization of money to a whole new level, an article by a top Chinese central bank official reveals. In the article, written by People’s Bank of China (PBoC) deputy governor Fan Yifei for the bank’s Financial News newspaper, it was made clear that the primary goal of the

KuCoin Has A Surprise to Thousands of Unaware Aave’s LEND Holders

After first delisting DeFi platform Aave’s LEND tokens back in December 2018 due to “low liquidity,” crypto exchange KuCoin has now re-listed the asset after the price increased more than 6,000%. However, thousands of holders are not even aware that they now hold the tokens. The news about the likely forgotten LEND tokens was first shared on Twitter earlier this

MicroStrategy and Willy Woo Have Good News For Bitcoin Bulls

Just as a major US-based giant announced that it might further increase its already large exposure to bitcoin (BTC), popular crypto analyst Willy Woo shared three new charts, which all painted a bullish picture for the number one cryptocurrency. According to a filing with the US Securities and Exchange Commission, MicroStrategy, the US-based major business intelligence

DeFi Helps Ethereum Surpass Bitcoin in Adjusted Transfer Value

The 7-day average adjusted transfer value of Ethereum’s native ETH token has for the first time since early 2018 surpassed that of bitcoin (BTC), a new report from crypto analytics firm Coin Metrics showed. According to the report, the ‘flippening’ is due to ETH increasingly being used for transfers between DeFi applications, which overwhelmingly are built on the

Uniswap DeFi Trader Tells a Story Of Exploiting A Bug and Making USD 270k

An alleged trader on the Uniswap decentralized exchange claims she/he made close to USD 270,000 in profits after exploiting a bug with the rebase functionality of the recently listed token Soft Yearn (SYFI). The claim was made through an anonymous Twitter account called Amplify on Monday this week, with the person claiming that she/he is “the person who sold SYFI on

Ethereum Whales Almost Double Their Holdings in A Month – Report

The largest holders of ethereum (ETH) tokens have become even larger, with a near-doubling of their bags over the course of August, new data from on-chain analysis firm Santiment showed. Looking at the holdings of the largest non-exchange ETH wallets, the firm found that holdings increased by 84% in August, from ETH 3.16m ETH at the start of the month, to ETH 5.80m at

September is Bitcoin’s Worst Month & It Can Get Worse This Year – Kraken

September is historically the worst month of the year for the price of bitcoin (BTC), with an average return of -7%, a new report from major crypto exchange Kraken warned. This year, BTC has underperformed relative to historical monthly averages, which, according to the company, means that investors should be prepared that bitcoin this month could perform “worse than

Lightning Network-Based Exchange LN Markets Gets Investment from Bitfinex

LN Markets, the first bitcoin (BTC) derivatives exchange built on top of the Lightning Network (LN), announced that it has closed its pre-seed funding round, with crypto exchange Bitfinex, bitcoin-focused investment firm Fulgur Ventures, and crypto research and asset management firm Arcane Crypto among the participants. Already in July, Cryptonews.com reported that LN Market