Over the last six months, the value of an ounce of gold has witnessed a 3.8% surge in relation to the U.S. dollar. Within the realm of cryptocurrencies, there exist two noteworthy tokens backed by gold: pax gold (PAXG) and tether gold (XAUT). Together, these tokens amass a considerable worth of nearly $1 billion. Although…
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According to data, the cryptocurrency ecosystem has endured its longest stretch without an altcoin season. So far, it has been more than two years without an altcoin season, and there have been no signals indicating one might emerge. Altcoin Season Eludes Cryptocurrency Market for 2 Years Recently, social media and cryptocurrency-related forums have been abuzz…
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Over the past two weeks, bitcoin cash has experienced a significant surge, increasing 182% against the U.S. dollar and attracting more hashrate to its network. Approximately 22 bitcoin cash mining pools are now allocating SHA256 hashrate to the chain as BCH is currently 2.7% more lucrative to mine compared to BTC. Bitcoin Cash Hashrate Sees…
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The suspected administrator of the Monopoly Market darknet marketplace has been extradited from Austria to face charges in the U.S. The man, a citizen of Serbia and Croatia who was arrested in Vienna last November, has been accused of facilitating $18 million in illegal drug transactions using cryptocurrencies. DNM Administrator Charged in U.S. With Running…
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The market share of the U.S. subsidiary of Binance has declined amid an ongoing crackdown by America’s securities regulator. According to new data, leading U.S. crypto exchange Coinbase, also sued by the Securities and Exchange Commission (SEC), is taking a hit, too. Binance US Market Share Drops to 1.5%, According to Kaiko The litigation with…
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The Bitcoin network has witnessed a consecutive surge in mining difficulty during the past three retargets, and now a fourth increase is slated for June 27, 2023. The block generation time, averaging less than ten minutes, indicates that the difficulty is projected to climb by an estimated 2.1% to 2.33% based on the latest statistics.…
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The global cryptocurrency exchange cites limited demand for institutional-grade services under current market conditions. Crypto.com will no longer serve institutional clients in the United States after announcing the suspension of the service starting June 21. The Singapore-based cryptocurrency exchange cited limited demand from institutional customers as a primary reason for the move, which has been…
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In the wake of Binance’s departure from Canada, cryptocurrency exchange Bybit has announced its exit from the nation as well, citing “recent regulatory development” as the reason. Effective May 31, Bybit stated that it would cease accepting applications from Canadian residents. Bybit to Pause Operations in Canada According to a Tuesday announcement, Bybit is withdrawing…
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Rumors have been spreading throughout the cryptoverse that the major blockchain bridge Multichain team has been arrested by the Chinese police – with the shockwaves hitting the Fantom (FTM) ecosystem softer than expected. Per several Twitter accounts, the Chinese community has been reporting the core team members’ arrests, as well as that law enforcement gained…
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The Central Bank of Russia predicts an increase in the issuance of digital assets, citing some of their advantages. The monetary authority has published a report presenting the progress made by the growing industry and assessing the prospects for its further development. Russia’s Central Bank Issues Report on Market for Digital Assets The Central Bank…
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