Altcoin News by Thebittimes.Com

Andromeda, a platform offering a variety of on-chain and multi-chain products, has announced an integration with the finance blockchain Injective, as per the latest updates shared with Finbold on June 27. The integration is set to accelerate the adoption of decentralized finance (DeFi) and will merge each of the partners’ respective technologies to unlock new economic opportunities. The Andromeda-Injective partnership Together, the two partners will work on enhancing the capabilities of both Andromeda, recognized as the first Web3 Operating System, and Injective, the fastest blockchain developed for financial applications.  Picks for you ‘Hawk Tuah’ crypto token soars 1,300% in a week 1 hour ago US economist warns of financial apo...

Web3 has been gaining momentum. However, with general understanding remaining low, the burning question becomes—is the adoption of web3 a reality or merely hype? The internet has become ubiquitous in people’s everyday lives, molding their reading choices, shopping preferences, entertainment options, and communication methods.  A Sandvine global internet report from earlier in the year revealed that the average person spends as much as eight hours on online apps. However, there has been growing unease about the access and control of people’s intimate information. Large tech firms have increasingly come under the cosh for their handling and potential misuse of personal data and their substantial influence over the internet due to their market supremacy. Per the Sandvine report, nearly half (48%) of the total internet traffic was directed through titans like Microsoft, Alphabet (Google), Meta (formerly Facebook), Amazon, and Apple, a group commonly referred to by the acronym MAMA...

Animoca Brands invests in Telegram’s TON blockchain protocol and becomes its largest validator as it eyes GameFi development on the platform. Web3 investment firm Animoca Brands is set to become the largest validator of Telegram’s TON (The Open Network) blockchain and plans to deliver blockchain -based games to the messaging app’s 800 million strong user base. An announcement shared with Cointelegraph outlined how the partnership will involve the provision of funding, research, and an analytics platform for third-party TON ecosystem applications.  The value of Animoca’s investment was not disclosed at the time of publishing, but part of the investment is understood to have been made directly into Toncoin, which has been staked as part of the validator agreement. Related: Animoca still bullish on blockchain games, awaits license for metaverse fund Animoca has carried out extensive market research on TON’s wider ecosystem focused on the platform’s ability to drive cryptocurrency and...

Vitalik Buterin called the early Ethereum scaling solution Plasma “underrated” and a “significant security upgrade” for chains that would otherwise be validiums. Plasma, a once-prominent Ethereum layer 2 scaling solution, should be revisited by teams currently working on zero-knowledge Ethereum Virtual Machines (EVMs), says Ethereum co-founder Vitalik Buterin. Invented in 2017, Plasma diverts data and computation — except deposits, withdrawals and Merkle roots — to an off-chain environment. It was superseded by optimistic and zero-knowledge (ZK)- rollups as the two solutions offered cheaper client-side data storage costs and security properties that “cannot be matched,” Buterin explained in a Nov. 14 X (Twitter) post. Exit games for EVM validiums: the return of Plasmahttps://t.co/QgyzXAl0wv — vitalik.eth (@VitalikButerin) November 14, 2023 Buterin said rollups remain the “gold standard ,” but Plasma is an “underrated design space” that shouldn’t be forgotten. “Plasma can be a sign...

A newly formed organization will begin a dialogue among central banks to support adapting technical standards of different CBDC solutions. The Nobel Sustainability Trust (NST), a charity established by the members of the Nobel family, is set to push the adoption of central bank digital currencies (CBDCs) with a new initiative called Central Bank Digital Currency Collaboration Organization (CBDCCO). According to a press release, the program aims to facilitate “efficient and reliable carbon asset life cycle management” for central bank digital currencies. You might also like: Switzerland to launch CBDC pilot on SIX Digital Exchange With CBDCCO, the trust wants to begin a dialogue among central banks to support integrating “innovative digital financial infrastructure” developed by central banks and organizations such as BIS, IMF, and World Bank. “Digital currencies present a unique opportunity to rebuild and reshape our financial systems with...

The Simpsons poked fun at NFTs in their annual halloween special but degens still managed to take advantage of the publicity to hoist an NFT collection to near top of the charts. The Simpsons roasts NFTs in new Halloween episode Animated television series The Simpsons spent an entire segment mocking nonfungible tokens (NFTs) during the latest 34th annual Treehouse of Horror Halloween special, in a segment called “Wild Barts Can’t Be Token.” In the special, Homer accidentally mints Bart on the blockchain, and in the ensuing scenes, the creators poke fun at NFTs, all while referencing collections such as the Bored Ape Yacht Club, Doodles, as well as the viral digital artist Beeple. Get ready for a non-fungible night in tomorrow's #TreehouseOfHorror XXXIV on @FOXTV, next day on @hulu. pic.twitter.com/Y4cSiyp4kD — The Simpsons (@TheSimpsons) November 4, 2023 The special revolved around poking fun at the speculative nature of NFTs and how the market is largely fueled by FOMO (fe...

Michael Saylor founded MicroStrategy has bought 6,067 Bitcoin since the start of the third quarter. Business intelligence firm MicroStrategy has notched a paper gain of $900 million on its stack of 158,400 Bitcoin, spurred by optimism over the potential approval of spot Bitcoin exchange-traded funds. The Michael Saylor-founded firm added 6,067 Bitcoin (BTC) since the third quarter, including another 155 in October, according to MicroStrategy’s Nov. 1 results filing. In October, @MicroStrategy acquired an additional 155 BTC for $5.3 million and now holds 158,400 BTC. Please join us at 5pm ET as we discuss our Q3 2023 financial results and answer questions about the outlook for #BusinessIntelligence and #Bitcoin. $MSTR https://t.co/w7eRUcGobi — Michael Saylor️ (@saylor) November 1, 2023 MicroStrategy’s CEO Phong Le said the firm isn’t shying away from its Bitcoin strategy any time soon. “Our commitment to acquire and hold bitcoin remains strong, especially with the promising backdrop ...

Localcoin ATM will also be expanding its range of cryptocurrency offerings and launching a wallet app. Canadian fintech corporation WonderFi, a firm backed by billionaire Kevin O’Leary, recently announced a strategic partners hip between Bitbuy and crypto currency ATM provider Localcoin ATM. The partnership, announced on Sep. 18, will shore up Localcoin’s crypto ATM offerings throughout Canada with Bitbuy’s exchange platform and the “deep liquidity” that comes with it, according to a press release from WonderFi. PRESS RELEASE: Bitbuy Partners with Localcoin, Canada's Largest Bitcoin ATM Provider Bitbuy's digital asset offering now powers nearly 50% of Canada's Bitcoin ATMs MORE DETAILS: https://t.co/rqBDoHev1O — WonderFi (@WonderFi) September 18, 2023 Bitbuy was the first cryptocurrency exchange to receive full regulatory approval in Canada. It was acquired by WonderFi in the January 2023 purchase of its parent company First Ledger Corp., for close to $162 million (206...

The next generation of crypto mining will focus on alternative energy sources for efficiency. During the 2021 bull market, many large mining companies took on massive loans to buy equipment and the proper infrastructure required to mine cryptocurrency. Yet the collapse of crypto exchange FTX and Celsius left many of these companies filing for bankruptcy.  The current bear market, coupled with high Bitcoin network hash rates and low profits, has yet again left the crypto industry wondering if miners will be able to recover from losses. While this remains questionable, it’s become evident that mining companies today are focusing more on alternative energy resources to cut costs, ensure profits and, in some cases, reduce their environmental impact. Alternative energy sources used by miners Steven Lubka, managing director for Bitcoin-focused financial services company Swan Bitcoin, told Cointelegraph that while the average rate to mine a single Bitcoin (BTC) is around $26,000, mining com...

Visa’s innovative solution employs Ethereum’s ERC-4337 standard and the “Paymaster” smart contract, enabling off-chain gas fee settlement. In a potential transformative move for users, Visa, the payments solution provider, is testing an innovative solution enabling on-chain gas fees to be paid using a Visa card. Mustafa Bedawala, a product manager at Visa, presented the report, highlighting an observed challenge with crypto currency wallets; the ongoing requirement to oversee Ether (ETH) balances for covering gas fees. The standard Ethereum procedure involves users acquiring ETH from an exchange or on-ramp service and then transferring it to their wallets to cater to variable gas fees. This continuous adjustment of gas prices frequently leads to users either overspending or having insufficient ETH, introducing intricacies and challenges. Visa’s innovative solution employs Ethereum’s ERC-4337 standard and the “Paymaster” smart contract, enabling off-chain gas fee settlement. The proce...

During a Twitter Space on July 5, Binance CEO Changpeng Zhao delivered his forecast for the next Bitcoin bull run. Binance CEO Changpeng Zhao has delivered his prediction for the next Bitcoin (BTC) bull market. Speaking in a July 5, “ask me anything” session on Twitter, CZ explained how the price of Bitcoin has historically moved in four-year bull cycles. https://t.co/OENe6Ul4ag — Binance (@binance) July 5, 2023 While he admitted that he can’t see the future, Zhao emphasized the up coming Bitcoin halving event in 2024 and declared 2025 to be the most likely year for the next bull market, stating: "The year after Bitcoin halving is usually the bull year." CZ addresses BlackRock and Bitcoin ETFs Asked whether he was concerned about BlackRock’s recent entry into the spot Bitcoin ETF arena, CZ welcomed the idea saying it is “hugely beneficial” for the crypto industry. Since the firm’s June 15 filing, many have raised concerns that the intention of major TradFi firms stand in ...

A recent survey conducted by Binance Research and Binance VIP & Institutional provides insights into the thoughts and preferences of institutional investors in the cryptocurrency market. The Institutional Crypto Outlook Survey gathered responses from 208 Binance institutional clients and VIP users, offering information about their attitudes, preferences, adoption, and motivations regarding cryptocurrency investments. Find all the details of the survey here ️https://t.co/MepebgEUTI — Binance (@binance) June 30, 2023 The survey reveals that 63.5% of respondents are optimistic about the crypto market in the next 12 months. Additionally, 88.0% have a positive outlook for the next decade, indicating their long-term confidence in crypto. Regarding portfolio allocation, 47.1% of institutional investors maintained their crypto holdings over the past year, while 35.6% increased their allocation. Looking ahead, 50% of respondents plan to increase their allocation in the next 12 m...

During a panel at the Australian Blockchain Week, executives from Australia’s major banks explained why they added restrictions on payments to local crypto exchanges. Australia’s cryptocurrency industry banking woes will likely continue, with the government and major banks signaling no intention to back down against scams that “touch” crypto. During a panel at the Australian Blockchain Week on June 26, Sophie Gilder, managing director of blockchain and digital assets at Commonwealth Bank (CBA) shed light on the bank's restrictions on crypto exchange payments, noting it was put in place after seeing an alarming rate of scams that ended up involving cryptocurrency. “One in three of the dollars that are scammed from Australians touch crypto, one in three. So it's the single largest lever that we have to reduce this impact on our customers,” she said. Commonwealth Bank's Sophie Gilder speaking in a panel during Australian Blockchain Week. Source: Cointelegraph Nigel Dobson, ba...

The expansion came following a “productive dialogue” with the U.K. Prime Minister and “months of constructive conversations” with UK policymakers, a16z’s general partner said. Venture capital firm Andreessen Horowitz (a16z) is set to open its first office outside of the United States this year, adding to the backdrop of U.S.-based firms seeking greener pastures outside of the country. Chris Dixon, a16z’s crypto founder and managing partner cited a “ predictable business environment ” as one of the main factors behind its decision to expand, and comes amid a slew of regulatory actions against crypto firms in the United States in recent months. Big news to share: @a16z is expanding to the UK We plan to open our first international office in London later this year, and will host the next Crypto Startup School there in 2024. Why the UK? https://t.co/PQ7GuNEn77 — cdixon.eth (@cdixon) June 11, 2023 Dixon said the decision was finalized after a “productive dialogue” with the U.K. ...

Stablecoin issuer Tether is making a strategic investment in energy production and Bitcoin mining to support El Salvador’s adoption of BTC. Stablecoin issuer Tether (USDT) has reached into its own war chest to  invest in El Salvador’s $1 billion renewable energy project to help drive Bitcoin (BTC) adoption in the Central American nation. The firm responsible for issuing USDT across cryptocurrency markets is one of a handful of companies invest ing in El Salvador’s renewable power generation project. Volcano Energy is set to generate electricity from solar and wind energy in El Salvador to power future Bitcoin mining operations in the country. The planned 241-megawatt (MW) renewable energy park is the latest move in El Salvador’s Bitcoin adoption drive after the country made BTC legal tender back in 2021. Cointelegraph caught up with Tether CTO Paolo Ardoino during Money 20/20 in Amsterdam in June 2023. Attending the renowned finance and payments convention promoting Bitfinex Pay and...

A new report from the Global Financial Markets Association says regulators need to take distributed ledger technology more seriously. Around $100 billion a year or more could be saved if distributed ledger technology (DLT) was used in traditional markets, claims a new report from the Global Financial Markets Association (GFMA). In a May 16 report, the traditional finance sector lobby group , along with international consulting firm Boston Consulting Group (BCG) and others, asked both regulators and traditional financial institutions to take a more serious look at the upsides of the technology. A distributed ledger is an umbrella term for a system that records transactions and digital information. A blockchain is a specific type of distributed ledger. “Distributed ledger technology holds promise for driving growth and innovation,” said Adam Farkas, GFMA’s Chief Executive. “This potential should not be ignored or prohibited where regulatory oversight and resiliency measures already ex...