Altcoin News by Thebittimes.Com

Coinbase has retracted its earlier statement that the US SEC had requested it to suspend all trading except for Bitcoin. Coinbase’s CEO Brian Armstrong previously said that the U.S. Securities and Exchange Commission had requested it to suspend all trading activities except for Bitcoin (BTC) in an interview with the Financial Times. The CEO’s announcement generated widespread discourse across various platforms, triggering crucial conversations about crypto regulation and its impacts on market dynamics. Armstrong expressed his concerns about the SEC’s actions, suggesting that it “could potentially stifle innovation and limit the freedom and growth of the burgeoning crypto industry.” You might also like: Court ruling fuels Coinbase’s regulatory quest against SEC Both the SEC and Coinbase went public later in the day to clarify previous statements. A Coinbase representative clarified to DL News that “prior to litigation, the SEC did not at any point r...

Investors and entrepreneurs can create and execute investment agreements directly on the blockchain. The venture capital world has long been known for its traditional approach to funding and investing in startups. However, the emergence of blockchain technology can potentially disrupt this industry and revolutionize the way venture capital operates. One significant aspect of this disruption is the tokenization of assets. Blockchain enables the creation of digital tokens representing ownership in assets or companies. This tokenization allows for fractional ownership and liquidity of traditionally illiquid assets, such as real estate or early-stage startups. It expands investment opportunities, enabling a wider range of investors to participate in ventures by owning tokens, even with small amounts of capital. Another key aspect is the use of smart contracts. These self-executing contracts with predefined rules and conditions are encoded on the blockchain . Smart contracts can eliminate...

This week, government agencies intensified their enforcement actions against fraudulent crypto activities, responding to a rise in hacking incidents, scams, and fraud.  One notable case involved the hacking of CoinsPaid. Alongside these developments, regulatory initiatives remained in focus, with the passage of a pro-crypto bill in the US Congress garnering attention. Crypto institutional adoption continued to show steady momentum. However, the launch of Worldcoin prompted discussions around privacy. Crypto hacks, scams, and fraudulent schemes Blockchain security firm PeckShield reported on July 24 that the launch of Worldcoin, the cryptocurrency backed by OpenAI’s CEO, was affected by the deployment of fake tokens on Ethereum. Two fake Worldcoin tokens were detected, and one displayed a suspicious 100% price drop, raising concerns about a potential rug pull scam. You might also like: zkSync Era’s Kannagi Finance rug pulls and steal $2.13m Additionally, after Twitt...

According to the company, the SEC shouldn’t allow any Bitcoin spot ETF associated with Coinbase without also approving Grayscale and other applicants. In order to avoid “picking winners and losers,” Grayscale requested in a letter to the Securities and Exchange Commission (SEC) of the United States that all eligible Bitcoin spot ETF applications be approved simultaneously. The company countered that, in accordance with the SEC’s pre-established guidelines, Coinbase shouldn’t be allowed to offer such a product as a surveillance partner. Why Coinbase Is Insufficient? According to the comment letter, the SEC has long questioned the pricing information provided by ‘unregulated’ Bitcoin trading sites. Grayscale referred to the SEC’s outright rejection of GraniteShares ETP Trust’s intention to join Gemini’s exchange in a surveillance-sharing arrangement (SSA) in 2018. Gemini was found by the SEC to not be...

Ethereum [ETH] recently experienced a significant decrease in exchange outflows. According to data from Glassnode, the volume of Ethereum withdrawn from exchanges reached a six-month low of $11,062,094.68. The decline in Ethereum exchange outflows is seen as a positive signal for the crypto. This decrease in outflows suggests a drop in selling pressure, which is typically a bullish sign. Furthermore, Ethereum has experienced a significant decrease in exchange inflows since the start of the year. Such a development might help in contributing to the upward movement of Ethereum’s price in the market as well. Source At press time, ETH was trading at $1,863 experiencing a 0.83% decrease in its daily value. Although the overall market sentiment seemed lackluster, there were several indicators suggesting the possibility of a significant upswing for the leading altcoin. Also Read: Ethereum Tops Institution-Grade ESG Ranking, Bitcoin Ranks 20th Big bullish bets According to d...

Whale inflows to crypto exchanges have sustained an elevated inflow bias. The inflow bias has been between 4,000 to 6,500 bitcoins per day since June this year. Whale netflows to exchanges act as a proxy for the cohorts’ influence on supply and demand. According to Glassnode, the on-chain and financial metrics platform, Whale inflows to crypto exchanges have sustained an elevated inflow bias of between 4,000 to 6,500 bitcoins per day throughout June and July this year. That is a significant variation from the historical rates of netflows, which oscillated between 5,000 bitcoins and -5,000 bitcoins per 30-days over the last five years. Analysis of the Whale Netflow to Exchanges can be used as a proxy for the cohorts influence on the supply and demand balance. Whale-to-exchange netflows have tended to oscillate between ±5k BTC/day over the last five years. However, throughout June and July this year, Whale… pic.twitter.com/T2JPn2eh3H — glassnode (@...

Canadian regulator revealed it is considering amendments to its capital and liquidity approach concerning crypto assets. The proposed rules aim to streamline how institutions handle potential risks associated with crypto currencies, outlining four distinct categories of digital assets and their respective capital treatment. In a July 26 news release from Ottawa, Canada, the Office of the Superintendent of Financial Institutions (OSFI) has proposed revisions to its capital and liquidity approach for crypto-assets. It aims to align with the evolving risk landscape and international developments. The OSFI unveiled two draft guidelines. One is for federally regulated deposit-taking institutions. Another is for insurers, outlining the regulatory capital treatment of crypto-asset exposures. In line with @BIS_org’s new banking standards for # crypto -asset exposures, we’ve drafted guidance tailored for Canada. Share your feedback on proposed changes to our capital and liquidity approa...

After the cryptocurrency market crashed earlier this week, a few whales sold millions of dollars worth of Wrapped Bitcoin (WBTC) and Ethereum (ETH). According to blockchain tracker Lookonchain, one whale unloaded 150 Wrapped Bitcoin worth $4.36 million for $29,053 per WBTC. According to Lookonchain, Another whale sold 3,967 Ethereum worth $7.32 million for $1,846 per ETH. For $1,844, a third whale dropped 7,115 ETH, valued at $13.12 million. A WBTC ERC20 token with a 1:1 Bitcoin (BTC) backing. The asset is made to combine the abilities of an ERC20 token with the power of Bitcoin, allowing users to build smart contracts for Bitcoin and allowing traders to transfer Bitcoin between exchanges much more quickly. Prices for both assets dropped on Monday. ETH’s price dropped from a high of $1,904 on Sunday to a low of $1,842 on Monday. The second-ranked cryptocurrency by market capitalization is currently selling for $1,864. On Sunday, WBTC reached a high of ...

An XRP supporter, Mr. Huber claims there is a major demand for XRP. According to Huber, between one to four billion dollars worth of XRP is demanded every day. Huber noted that demand for XRP grew by 800% more than what Ripple could offer. According to Mr. Huber, an XRP supporter and self-described sleuth looking for truth, there is a major demand for XRP. He noted that between one to four billion dollars worth of XRP is demanded per day. Wrong, there is a major market demand for XRP, between one and 4 billion dollars per day. But in the past year the demand grew "only 800%" more than Ripple was able to offer through their own sales. Ripple increased the supply by 10% by selling their xrp while in the same… https://t.co/NTG0u81X2C pic.twitter.com/qVqzHce5zy — Mr. Huber (@Leerzeit) July 25, 2023 Huber made the statement while responding to Yassin Mobarak, a member of the X social network who said there is no real market demand for XRP. Acc...

WLD makes an impressive mark in the crypto market with an FDV of over $21B. Over 1.7M WLD tokens have been distributed to 68,000 users, with an average profit of $54. Worldcoin experiences a 22% 24-hour growth and over 26% against (BTC) pair. In a remarkable turn of events, the recently launched Worldcoin (WLD) has claimed a lofty position in the crypto market. WLD saw over half a billion dollars in trading volume in the last 24 hours, outstripping market leaders in certain metrics. In a recent tweet, Tom Wan, a research analyst at a prominent firm, revealed that WLD commands a fully diluted valuation (FDV) of over $20 billion, a figure higher than that of Cardano (ADA) and Solana (SOL). Wan added that over 1.7 million WLD tokens have already been distributed to 68,000 crypto users, with the average profit per user hovering around $54.   .@worldcoin @DuneAnalytics dashboard WIP With the current price, the FDV is as high as $21B, even higher than...

Over the past few months, there has been a notable influx of new assets making their way into the world of cryptocurrencies. Among these newcomers is Worldcoin ’s WLD token, which has recently gained attention. Interestingly, this project has garnered backing from Sam Altman, the CEO of the company that created ChatGPT. Following its launch, the WLD token experienced a remarkable surge, with its value increasing by more than 100%. Also read: US Congressman Warren Davidson Calls to Ban CBDC ChatGPT has gained a whopping $30 billion valuation. Now, according to the latest data from CoinMarketCap, WLD has almost reached $350 million in market capitalization. Source: Worldcoin Worldcoin market cap surges to $350 million WLD, after its launch today, witnessed a notable spike in its value. The price jumped from an all-time low of $1.66 to a high of $3.58 before falling to its current price of $2.24. WLD has plunged by 38% from its all-time high today. Also read: Sh...

A recent survey by BTC Peers shows that 40% of young American investors aged between 18 and 40 dived into cryptocurrencies for viral meme coins . The anonymized survey was taken among 2,531 US citizens, each completing a 55-question poll. This allowed users to share their enthusiasm for investing in crypto assets. “I bought Dogecoin after seeing memes about its price skyrocketing. The jokes made it feel like a fun club to join.” One user said in the survey. While 11% of the investors said their goal was to make long-term money, “the majority are in it for amusement and social belonging,” per BTC Peers. The bulk of meme coin investors, around 83%, belong to Millennials or Gen Z, the survey found. Moreover, 65% of the survey ed users claimed that humor and jokes help them understand the complex concepts of the crypto industry easily. One participant added that meme coins help to “spark enough curiosity” to learn more about “intimidating stuff like decentralized netwo...

Blockchain intelligence platform TRM Labs revealed that Tether (USDT) on the Tron network was being used for most of the transactions. Blockchain intelligence platform TRM Labs recently released a report that presents several case studies highlighting the use of crypto currency by ISIS affiliates across Asia. It linked on-chain connections between these groups and pro-ISIS fundraising campaigns in Syria. Published on July 21, the report indicated that there was “ mounting on-chain evidence” from the past twelve months that pro-ISIS networks in Tajikistan, Indonesia and Afghanistan have utilized crypto currency to help facilitate operations. According to TRM, the majority of transactions linked with the cases involved the use of Tether (USDT) on the Tron network (TRX). Extract from 'TRM Finds Mounting Evidence of Crypto Use by ISIS and its Supporters in Asia' report. Source: TRM Labs On July 21, Cointelegraph covered a presentation by Tara Annison, Elliptic’s former head of t...

Amidst increased uncertainty in the crypto market, investors remain optimistic about three major cryptocurrencies. Solana (SOL) and Aptos (APT) have shown bullish price action recently due to their solid fundamentals. However, the spotlight is on VC Spectra (SPCT) as market participants acknowledge its bright prospects for long-term growth and stability. Stick around to learn more about the best cryptos to buy in July 2023. BUY SPCT TOKENS NOW Solana’s (SOL) Price Soars in a Spectacular Bullish Rally Solana (SOL) soared by 61.23% in the past month, from $15.76 to $25.41 . Experts have also observed a surge in investor interest, as Solana’s (SOL) 24-hr trading volume jumped by 3.52%. Furthermore, Solana’s (SOL) upward momentum is attributed to its groundbreaking NFT com PR ession capability , which leverages a Merkle tree structure for data storage. This unique ap PR oach sets Solana NFTs apart from the norm by PR oviding a more streamlined and efficient storage ...

Shiba Inu’s (SHIB) highly anticipated layer-2 network, Shibarium , is “closer than you think,” according to blockchain infrastructure provider, NOWNodes. NOWNodes is also a key partner in SHIB’s layer-2 initiative. According to the platform, the final up dates are being processed before the mainnet launch. https://t.co/t4e5ljpvCQ x @ Shibarium Net Final Up dates before Mainnet launch 🛠️ It's closer than you think 👀 📣 As we stated a couple of weeks ago, our team entered Stage 3 of our Shibarium Roadmap. For now we've been focusing on onboarding project to build on Shibarium and… pic.twitter.com/PMvDmSEJcO — NOWNodes ⛓️ (@NOWNodes) July 20, 2023 A few weeks ago, the NOWNodes team entered stage 3 of their Shibarium roadmap. The team is currently focusing on onboarding projects to build on the upcoming network. As per an official tweet, the team will announce their official partner after finalizing th...

Transactions with China’s digital yuan hit almost $250 billion in June 2023. Since August 2022, the amount of transactions has increased by 13%. Although the number is high, it’s only 0.16% of China’s money supply. Transactions using China’s digital currency hit almost $250 billion at the end of June. Dr. Yi Gang, President of China Society for Finance and Banking, spoke at a lecture organized by the Monetary Authority of Singapore (MAS) on 20 July about China’s digital currency advancement. China’s digital currency, otherwise known as e-CNY, is the world’s first digital currency to be issued by a central bank. Dr. Gang said, “Transactions using China’s digital yuan hit 1.8 trillion yuan ($249.33 billion) in June, marking a jump from over 100 billion yuan as of August last year.” China’s digital currency competes with Alipay and WeChat Pay, the most popular digital payment platforms in China. Around 9 in 10 Chinese online payment users were using tho...

advertisement After Mantle Network, an Ethereum Layer 2 solution, combined with BitDAO a month ago, the price of BIT increased. The governance structure and financial capabilities of BitDAO are combined with Mantle Network’s cutting-edge technology through the merger. After passing the BIP-21 DAO governance proposal, members of the BitDAO community cast their votes in favor of the merger. The Merge- BitDAO and Mantle At the organization’s governance forum in February, the Mantle Core group suggested that BitDAO create funding to aid startup Web3 companies. The fund’s recommended investment period is three years, plus an additional extended period of two years. The BitDAO community governs the Mantle network through the ownership of BIT tokens, which are also used to complete transactions, fund Mantle projects, and reward stakers. To develop cutting-edge solutions for cooperative projects and transactions, Bybit works with BitDAO. The testn...