Bitcoin (BTC) hodlers are feeling the squeeze this week as repeated tests of lower levels spark increasing losses. Data from on-chain analytics firm Glassnode shows more wallets are in the red as of Aug. 23 than at any time in the past month. Over 17.5 million wallets in the red BTC/USD has seen five trips below $21,000 since the end…
Near Protocol’s Rainbow Bridge experienced another hack attempt over the weekend. Like the first attempt back in May, the project successfully blocked this attack “automatically within 31 seconds,” the CEO of Aurora Labs Alex Shevchenko announced on Twitter yesterday. The Rainbow Bridge connects Near Protocol, Ethereum, and Aurora—an EVM-compatible scalability solution on Near—allowing users to move funds between the networks…
After seeing Ghana’s inflation rate surge to 31.7% in July, the Bank of Ghana responded by hiking the benchmark interest rate by 300 basis points. In addition to the rate hike, the central bank said it will gradually raise banks’ primary reserve requirements. One expert has said President Nana Akufo-Addo must trim the size of his government. Largest Benchmark Rate…
In the aftermath of the first officially reported crypto payment in the sanctioned country’s foreign trade, Iran’s importers point to the necessity of stable regulations to continue trade via cryptocurrencies. On Aug. 20, local reports cited the head of Iran’s Importers Group and Representatives of Foreign Companies (Import Association), Alireza Managhebi, who emphasized that stable regulations and infrastructure should be prepared…
Gaming and NFT-related cryptocurrencies, including Flow (FLOW), Stepn (GMT), Axie Infinity (AXS), Decentraland (MANA), and Gala (GALA), have posted severe losses over the past week. FLOW, the token powering all things on the layer-1 blockchain flow, has dropped more than 23% in the last week, as per data from CoinMarketCap. FLOW has been bullish since Instagram’s integration earlier this month.…
Bitcoin (BTC), the world’s most-valued cryptocurrency, has the potential to be a significant energy consumer in the future, but only if it reaches several million dollars, according to new estimates by Arcane Research. Crypto research and analytics firm Arcane Research on Monday released a report estimating the development in Bitcoin’s energy usage towards 2040. Authored by Arcane Research analyst Jaran…
SudoRare, an automated market maker (AMM) protocol for ERC-721 to ERC-20 swaps, suddenly shut down its services and social media accounts after reportedly making away with 519 Ether (ETH), worth roughly $815,000. A crypto community member, sungjae_han, was first to point out a suspicious transaction that drained substantial funds off SudoRare using LooksRare (LOOKS) and USD Coin (USDC) tokens. #PeckShieldAlert…
The Ethereum (ETH) community has been divided over how to best respond to the threat of protocol-level transaction censorship in the wake of the United States government sanctions on Tornado Cash-linked addresses. Over the last week, Ethereum community members have proposed social slashing or even a user-activated soft fork (UASF) as possible responses to transaction-level censorship on Ethereum, with some…
This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Korok Ray to talk about Bitcoin being integrated into curriculum at the university level. Watch This Episode On YouTube Or Rumble Listen To The Episode Here: Q: Bitcoin doesn’t always have the most positive sentiment around it. There…
Iran’s association of importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government is officially using crypto to pay for imports. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” a government official said. Imports Association: Iran Needs Stable Crypto Regulation…
