Category: Cryptocurrency

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Uzbekistan Collects Over $300,000 From Crypto Sector

February 4, 2023

While operations with digital assets are not taxed in Uzbekistan, the government is receiving a growing amount of revenues from the industry. The increase in budget receipts has been attributed to the licensing regime and the introduction of fees for crypto companies. Crypto Exchange in Uzbekistan Pays Over $10,000 a Month to the State Coffer…
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Ethereum Network’s Rising Gas Fees in 2023: A Balancing Act of Growth and Cost

February 3, 2023

Ethereum gas fees have increased 13.71% in the last two weeks, with the average fee rising from $4.52 per transaction to $5.14 per transfer on Feb. 3, 2023. Despite ethereum’s price seeing significant growth this year, its network’s gas fees have also seen a similar increase. As the demand for Ethereum’s capabilities continues to soar,…
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As Avalanche Price Explodes, These 3 Altcoins Might 20x in 2023

February 3, 2023

AVAX, the cryptocurrency that powers Avalanche’s high-performance smart-contract-enabled layer-1 blockchain protocol, has been surging in 2023. The cryptocurrency is already up nearly 100% since the turn of the year, with AVAX last changing hands to the north of $21 per token, having ended 2022 under $11…. Read More: As Avalanche Price Explodes, These 3 Altcoins…
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OpenSea serves as an example of why crypto security must improve

February 3, 2023

For cryptocurrency to achieve mass adoption, breaches that can be easily prevented — like the phishing attack that resulted in OpenSea losing $1.7 million — need to end. In February 2022, OpenSea fell prey to a major phishing attack that resulted in over $1.7 million in nonfungible tokens (NFTs) being stolen from users. It wasn’t…
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Smart Contract Token Market Soars to $332 Billion; Defi Value Reaches High Not Seen Since FTX Collapse

February 2, 2023

The smart contract token economy rose 5.6% against the U.S. dollar on Thursday, reaching $332 billion. Additionally, the value locked in decentralized finance (defi) increased to nearly $50 billion, a record high not seen since the collapse of FTX. Smart Contract Economy and Defi TVL Bounces Back On Thursday, Feb. 2, 2023, the top smart…
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Bitcoin Records Largest Mined Block to Date, 4 MB Block Containing NFT Causes Unease Among Small-Block Supporters 

February 2, 2023

Amid the controversy surrounding the Ordinals project and the debate over what types of data should be stored on the Bitcoin blockchain, the network mined its largest block, nearly 4 MB in size, containing just 63 transactions. One of the transactions was a 3.94 MB Ordinal inscription featuring an image of a wizard, and the…
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Crypto Market Still Reeling As Bitcoin’s Break Above $24,000 Triggers Liquidations

February 2, 2023

On Wednesday, the crypto market received favorable news in form of the FOMC announcement and the price of Bitcoin eventually broke above $24,000. With the Fed turning dovish after being hawkish all through 2022, it has been a beacon for the crypto market to rally and the liquidations have ramped up as the market took…
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Bitzlato to Restore Operations and Withdrawals From Russia, Co-founder Vows

February 2, 2023

Russia-linked cryptocurrency exchange Bitzlato, seized by Western law enforcement, plans to relaunch and permit partial withdrawals, a co-founder announced. Members of the trading platform’s team also intend to relocate the business to the Russian Federation. Co-Founder Says Exchange Will Provide Access to User Funds Crypto exchange Bitzlato is taking steps to restore operations and immediately…
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NFT Sales Soar: January 2023 Reaches Nearly $1 Billion in 30 Days With 41% Increase

February 2, 2023

Non-fungible token (NFT) sales increased 41.96% from the previous month, according to data recorded on Feb. 1, 2023. NFT sales reached nearly $1 billion in 30 days, with an approximate total of $997.53 million. Additionally, the number of digital collectible transactions rose more than 22% in the past month. Bored Ape Yacht Club Dominates, Ethereum…
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