Ronin Network’s native token RON recorded 5x gains since the start of the year thanks to its plans to shift to a Delegated Proof-of-Stake (DPoS) consensus mechanism and expand its gaming portfolio beyond Axie Infinity. The gaming-focused layer-2 Ethereum blockchain will change its current Proof-of-Authority to the DPoS consensus mechanism on April 12. The previous
Month: April 2023
XRP (XRP) rose 2.1% to $0.52 on April 11, extending its daily gains from $0.50 alongside a broader cryptocurrency market rally, with traders pinning hopes on easing inflation data into April 12. XRP price: lackluster volumes raise risk of 25% correction XRP’s upside move brought it closer to breaking out of its prevailing bull pennant range,
ZK-rollups are the hottest thing in Ethereum right now, having seemingly appeared out of nowhere in late 2018 to fundamentally reshape the “Eth2” plan to scale via sharding alone. Zero-knowledge, or validity proof rollups, essentially perform the computations for many thousands of transactions away from Ethereum and then write a tiny cryptographic proof back to
On Monday, Robert F. Kennedy Jr. once again cautioned the public to be wary of central bank digital currencies (CBDCs), and he insisted that the Biden administration has launched a “steady barrage of hostile broadsides against cryptocurrencies.” Kennedy, who recently filed to run for president of the United States in the 2024 election as a
Beijing-based cryptocurrency mining firm Bitmain has reportedly violated tax regulations in China, with local authorities imposing major fines. Bitmain Technologies has been slapped with a tax penalty from the Beijing Municipal Office of the State Administration of Taxation, the local news agency Sina Finance reported on April 11. The authority fined Bitmain about 25 million
The U.S. Securities and Exchange Commission’s Investor Advisory Committee has advised the SEC to “aggressively” assert authority over crypto assets that are securities. The advisory committee believes that “virtually all, if not all, crypto tokens are securities,” urging the regulator to “make crypto asset-related enforcement a top priority.” SEC Urged to ‘Aggressively’ Assert Authority Over
Ripple’s XRP (XRP) is not a security because it does not fit the definition of an “investment contract,” the “only” legislative definition that it could “possibly” fit, according to Jeremy Hogan, a partner at the law firm of Hogan & Hogan. In a series of tweets on April 9, Hogan explained that, in his opinion,
The new R&D law has overly broad language that states “any and all” software development must be amortized over five years if the development took place in the United States, or over 15 years if the work was done overseas. The change doesn’t sound so bad on its surface; some argue it might even create
Bitcoin (BTC) rose to its highest level in ten months on April 10 as traders await this week’s April 12 consumer price index report to gain deeper insight into the Federal Reserve’s fight against sticky inflation. If the report shows inflation dropping, it could be the next possible catalyst that further’s BTC’s upward move. On
Cross-chain automated marker maker Symbiosis has onboarded layer-2 scaling protocol zkSync to improve speed and reduce fees of token swaps on its platform. The decentralized exchange (DEX) was launched in March 2022. It provides single-sided stablecoin pools that deliver zero impermanent loss to liquid providers. It also facilitates ‘any-to-any’ native asset swaps on its platform across
Emmanuel Macron, president of France, clarified his position on the future of Europe and its relations with China and the U.S. in the short term. Returning from his visit to Beijing, Macron believes that Europe should avoid getting caught up in a conflict between the U.S. and China, and reduce its reliance on the U.S.
New York Times’s latest report on Bitcoin (BTC) mining, titled “The Real-World Costs of the Digital Race for Bitcoin,” has irked many BTC proponents. A number of Bitcoin proponents took to Twitter to call out certain aspects of the report calling it “cheery picking data.” The NYT article calls Bitcoin mining a “voracious” appetite and claims
Bitcoin’s (BTC) tight consolidation near its local top suggests that traders are waiting for a catalyst to start the next trending move. The consumer price data on April 12 and the producer price index data on April 13 could give insight into the Federal Reserve’s future rate hikes and shake the traders out of their
Decentralized finance (DeFi) protocol SushiSwap recently suffered an exploit due to a smart contract bug, leading to over $3 million in losses. Members of the crypto community responded to the hack, with some thinking that there was something fishy about it. On April 9, security firms detected unusual activities in the DeFi platform’s smart contract
The algorithmic stablecoin TerraUSD (UST) collapsed almost one year ago, but some Terra-related projects are still live and trying to overcome some issues. Terraport Finance, a decentralized finance (DeFi) exchange project based on the Terra Classic blockchain, suffered a breach on its liquidity wallet on April 10. Announcing the news on Twitter, Terraport said the
Bitcoin (BTC) continues to tread water at the April 10 Wall Street open, but crypto market participants are betting on a serious breakout next. After a late surge took BTC/USD to its highest weekly close since June 2022, there is new optimism over an attack on $30,000. Data from Cointelegraph Markets Pro and TradingView shows
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