Layer one (L1) blockchain networks, including Ethereum, Solana, and Bitcoin, have experienced a significant reduction in onchain and market activity in 2024. Researchers Tanay Ved and MatÃas Andrade from Coin Metrics highlight the challenges these networks face as total fees and token performance drop below early-year highs. Ethereum, Solana, and Bitcoin See Sharp Drop in […]
Matter Labs, a key player in the crypto industry, is restructuring, resulting in a 16% workforce reduction. The decision, made to align with evolving market demands and internal strategy shifts, was difficult but necessary, according to the CEO Alex Gluchowski. Departing employees will receive a comprehensive exit package, including salary continuation, healthcare, career support, and […]
Central banks globally continued to bolster their gold reserves in July, despite an increase in gold prices, according to a report by Krishan Gopaul, senior analyst, EMEA at the World Gold Council. The report highlights a 206% increase in net gold purchases compared to the previous month, driven by several key players in the global […]
As bitcoin prices slipped under $ 60,000 in early September, the once-electric excitement around bitcoin seems to have dimmed, as reflected in Google Trends data. Back on Jan. 1, 2024, the search term “bitcoin” was coasting along with a score of 57 out of 100, but fast forward to now, and it’s plunged to …
The blockchain-powered prediction market Polymarket saw an additional $ 85.84 million in trading volume during August, marking a notable uptick from July. August’s volume of $ 472.87 million set a new high, surpassing every month since Polymarket’s inception. Polymarket Volume Soars in August While some sectors faltered in August, Polymarket thrived, setting new …
The East African nation of Tanzania has reportedly restricted access to the social media platform X (formerly Twitter). This ongoing outage has been confirmed by Netblocks, an internet observatory organization. The incident coincides with a police alert regarding alleged plans by the opposition party to raid police stations. Prominent politician Tundu Lissu and four other […]
Despite recent turbulence in the crypto market, bitcoin’s price continues to carry a premium in South Korea. As of 4 p.m. EDT, bitcoin is trading at $ 59,002 per unit, but in South Korea, the exchange rate hits $ 59,900, reflecting a 1.52% premium. Despite First Negative Dip Since Oct. 2023, South Korea’s …
Over the past week, The Open Network (TON) ecosystem has encountered a series of setbacks due to a wave of unfavorable news. The turbulence began with the arrest of Telegram founder Pavel Durov, followed by two significant outages on the blockchain network that brought block production to a standstill. Altogether, in just 68 days, the […]
On Tuesday, spot bitcoin exchange-traded funds (ETFs) experienced their first outflows after an eight-day run of inflows. The group of funds saw $ 127.05 million withdrawn, with ARKB taking the brunt of the losses, shedding $ 101.97 million. Ether ETFs also saw declines, though their losses were less significant compared to their bitcoin …
On August 26, 2024, ethereum’s price hovered around the $ 2,739 mark, reflecting a cautious market sentiment as traders weigh the potential for further gains against looming resistance. Technical indicators across multiple timeframes reveal a mixed outlook, with key support and resistance levels tightly defining ethereum’s near-term trajectory. Ethereum Ethereum’s daily chart shows a …
Polygon’s community Discord channel was compromised in a recent cyberattack, raising security concerns among users. The platform’s administrators have regained control and are working to restore the channel to its original state. Polygon Discord Breached—Admins Regain Control Access Polygon‘s chief information security officer, Mudit Gupta, explained that the Discord channel was compromised, cautioning users to […]
Crypto exchange Binance plans to hire 1,000 new employees this year, primarily for compliance roles, as regulatory spending exceeds $ 200 million. CEO Richard Teng highlighted the company’s commitment to bolstering its compliance operations amid increased regulatory scrutiny and ongoing legal challenges. Binance to Expand Workforce With 1,000 New Hires Amid Regulatory Scrutiny Binance …
Iran is aggressively cracking down on illegal cryptocurrency mining as the nation faces a severe power crisis exacerbated by an intense heatwave. Iranian authorities claim that unauthorized crypto mining has significantly strained Iran’s power grid, leading to widespread industrial disruptions. A bounty program has been launched to encourage citizens to report illegal mining operations. Iran […]
Bitfarms Ltd. has announced significant changes to its board of directors and executive team as the company continues to navigate a takeover bid and governance dispute with Riot Platforms Inc. The latest leadership updates include the appointment of CEO Ben Gagnon to the board and the resignation of co-founder and chairman Nicolas Bonta. Bitfarms Restructures […]
Crypto exchange Bitfinex’s latest Alpha report examines various key metrics, providing insights into whether bitcoin may be approaching a local bottom. “Overall, these metrics underline the deep bearish sentiment and stress among short-term investors, which usually occurs at local bottoms,” the report states. Bitfinex Report Analyzes Bitcoin’s Rebound and Potential Local Bottom Crypto exchange Bitfinex […]