Ethereum (ETH) scaling protocols are dominating the use of zero-knowledge (ZK) rollups, with major launches, new research and healthy competition key points in a sector report published by ZK Validator. The node infrastructure operator’s “State of ZK Q2” report reflects on significant events across the ZK ecosystem, with notable launches of ZK-powered layer 2’s highlighting the
Month: July 2023
Europe’s first spot Bitcoin (BTC) exchange-traded fund (ETF) is set to debut later this year after a year-long delay. The Bitcoin ETF by Jacobi Asset Management, a London-based multi-asset investment platform, was set to debut on the Euronext Amsterdam Exchange under the ticker BCOIN in July 2022. However, unprecedented market conditions aided by the collapse
The current state of Web3 user experience is akin to driving a manual transmission car — there’s more control, but most users will find it unnecessarily clunky, according to several UX designers. Over the years, discussion around mainstream adoption of Web3 has centered around the need to improve crypto’s user experience and “ease of use.”
Bitcoin (BTC) staged a fresh breakout attempt into July 11 as the battle for yearly highs stayed hot. BTC/USD 1-hour chart. Source: TradingView $31,000 reappears in BTC price “leverage crunch” Data from Cointelegraph Markets Pro and TradingView showed BTC price briefly passing $31,000 before the July 10 daily close. In a copycat move, seemingly with
The proposal to launch GHO on Ethereum’s mainnet reached quorum after protocol delegate AaveChan voted “Yae” on Wednesday. Aave DAO’s community wholly backed the plan as all members of the DAO voted in support with over 698,000 votes at press time. This comes after months of successfully testing the GHO stablecoin on the Ethereum testnet
The approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) would equate to a “seal of approval” for Bitcoin from the United States government and its securities regulator, says Mike Novogratz. In a July 12 interview with Bloomberg TV the founder of crypto investment firm Galaxy Digital spoke about the multiple spot Bitcoin ETF filings
In this week’s newsletter, read about Ethereum nonfungible token (NFT) royalties hitting their lowest point in two years. Check out Bitcoin Ordinals trading volume, which hit $210 million in the second quarter of 2023, and how a decentralized finance (DeFi) borrower used an NFT representing a physical luxury watch to take out a loan. In
Prosecutors from the United States and agents from the Internal Revenue Service (IRS) are reportedly investigating wealthy crypto traders and fund managers suspected of illegally benefiting from Puerto Rico’s tax breaks. According to a June 12 report from Bloomberg, investigators are currently building civil and criminal cases against a number of hedge fund managers, crypto
Bitcoin (BTC) bulls are again having a go at the overhead resistance of $31,000. The bullish sentiment may get a boost from the United States inflation report, which showed signs of slowing down. Economists were expecting the year-on-year consumer price index to rise 3.1% but the June print came in at 3%. The month-on-month increase
The price of BNB has experienced a 24.5% decline over the past 90 days, despite a 7% gain between July 10 and July 11. BNB (BNB) has performed worse than the overall altcoin market, indicating that the underlying cause for the bearish momentum persists. It is highly likely that the correction in BNB’s price can be
Bitcoin (BTC) eased higher into July 12 with the key macroeconomic event of the week just hours away. BTC/USD 1-hour chart. Source: TradingView CPI set to hit lowest since March 2021 Data from Cointelegraph Markets Pro and TradingView followed BTC price momentum as it slowly inched closer to $31,000. The largest cryptocurrency showed little volatility
Bitcoin (BTC) mining difficulty reached an all-time high of 53.91 trillion units after the latest difficulty adjustment on July 12. It is a measure of how difficult it is to mine Bitcoin blocks. The blockchain adjusts its difficulty every two weeks to maintain its processing time of 10 minutes. When the network’s processing power increases,
Coinbase Wallet users can now send instant messages to each other using their Ethereum identities, according to a July 12 blog post from Coinbase. The new feature relies on the Extensible Message Transport Protocol (XMTP), an instant messaging system that allows users to communicate using blockchain addresses. XMTP is also used by decentralized social media
The European Securities and Markets Authority (ESMA), the European Union’s markets regulator, released a consultative paper on Markets in Crypto-Assets (MiCA) mandates on July 12. It was the first of three consultative packages the agency expects to publish and concerns technical specifications for crypto asset service providers (CASPs). Entities that are already licensed are presumed under
Pro-Bitcoin (BTC) Investment veteran Cathie Wood is taking some profits from ARK Invest’s large Coinbase holdings by selling a small portion of its stash. On July 11, Wood’s investment firm ARK offloaded 135,152 Coinbase shares ($12 million) from one of its major exchange-traded funds (ETF), the ARK Innovation ETF. According to the trade notification seen
Arbitrum-based decentralized finance (DeFi) protocol Rodeo Finance was exploited for $1.53 million on July 11. The DeFi protocol was exploited using a code vulnerability in its Oracle, leading to a loss of over 810 Ether (ETH). According to data shared by blockchain analytic firm PeckShield, the exploiter later bridged the stolen funds from Arbitrum to
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