Although utilization rose, protocol and supply revenue declined, as more providers slashed fees to incentivize adoption. According to a July 13 report by Messari, Filecoin currently averages 954.2 pebibytes (1.07 billion gigabytes) worth of storage deals on its network, compared with 12.2 exbibytes (14.1 billion gigabytes) worth of raw storage capacity. Until recently, uptake had…
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With an unwavering conviction in the potential of cryptocurrencies, Larry Fink, helmsman of BlackRock, the world’s most influential asset management firm, expressed a stronger faith in digital assets as investment tools today. His contention is that cryptocurrencies will “transcend any one currency.” How will this influence the best cryptos to buy now? Fink shared his…
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The top 100 DeFi tokens had a mixed week, with most of the tokens trading in a narrow range before surging on July 13 courtesy of Ripple’s partial win in its court battle with the SEC. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring…
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Solana (SOL) hit a fresh annual high of $32.13, buoyed by strong positive market movement. SOL’s price surged 23.5% in a single day at its peak. This upward swing, however, was fleeting, as sellers entered the market, exerting downward pressure on the price. Currently, SOL’s trading value stands at $27.99. Despite the pullback, it holds…
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Claims can be converted into collateral to trade crypto futures on the exchange. OPNX, an exchange dedicated to the trading of bankruptcy claims against fallen crypto firms, has listed FTX and Celsius claims. According to the July 14 announcement, FTX claims specifically can be immediately onboarded and converted into collateral in the form of OPNX’s…
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The regulator said Celsius “squandered billions in user deposits” after “duping” customers into depositing funds. The United States Federal Trade Commission has issued a $4.7-billion fine against bankrupt crypto lender Celsius Network. However, the judgement will be suspended to “permit Celsius to return its remaining assets to consumers in bankruptcy proceedings.” According to the July…
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The Bank of International Settlements (BIS) has published a report on cryptocurrencies and explains that the technology has serious “flaws.” BIS researchers insist that permissionless blockchains have “inherent limitations” that lead to network congestion and high fees. BIS Report: ‘Crypto Has So Far Failed to Harness Innovation to the Benefit of Society’ In its latest…
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Wallet, a custodial wallet bot on Telegram, says that merchants should sort out for themselves whether their jurisdictions allow them to accept payments in crypto. The cryptocurrency payment industry continues to evolve with a new cryptocurrency payment option coming to crypto-friendly Telegram messenger. Wallet, a Telegram bot allowing users to buy and sell cryptocurrencies like…
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Bitget currently has a martingale AI trading bot and a grid trading AI bot on its platform. On July 11, cryptocurrency exchange Bitget launched an artificial intelligence (AI)-powered feature for its grid trading strategies, leveraging the use of trading algorithms to automate transactions for users. In an interview with Cointelegraph, Bitget developers stated: “Compared with…
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The bank plans to enable users to make phone payments by integrating its digital yuan app with specialized “super SIM cards” with near-field communication capabilities. The Bank of China, one of the largest state-owned banks in China, is currently conducting trials for a novel offline payment system that connects to SIM cards. This payment method…
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