The cryptocurrency economy is doing well during the third week of the new year, compared to the end of 2022. It is currently valued at $993.17 billion, as many digital assets have seen double-digit gains during the last two weeks. While some of the top ten cryptocurrencies, like bitcoin and ethereum, are performing well, a few digital currencies have outperformed…
2022 was the year the wheels fell off the metaverse bandwagon, which had been the most hyped narrative as the year began. By far the worst-performing sector in blockchain, the average drawdown was 89%. Even Facebook’s grand plans to dominate the metaverse are in disarray; it’s losing more than $1 billion a month, while the flagship “Horizon Worlds” attracts fewer…
Despite the fierce headwinds the crypto industry faced over the last year, Web3 development activity has grown at an impressive rate, according to a new report. One such key indicator is the number of smart contracts deployed on the Ethereum mainnet, which grew 293% as compared to 2021, reaching rates that resembled the peaks of the previous year, per the…
In a candid interview with Cointelegraph at the World Economic Forum in Davos, Anthony Scaramucci, cofounder of SkyBridge Capital, lambasted Sam Bankman-Fried and shed light on his crypto portfolio. Scaramucci trusted the former CEO, Sam Bankman-Fried (SBF) of FTX, which imploded in late 2021. Scaramucci said in a panel preceding the interview that the “Ninth circle of hell” is reserved…
Voting has once again been delayed on the European Union’s proposals to align crypto rules across its 27 member states. Members of the European Parliament will not have the opportunity to vote on the Markets in Crypto Assets (MiCA) regulation until April, a European Parliament spokesperson confirmed to Decrypt. Lawmakers had previously set a tentative date of February. The delay,…
Bitcoin climbed back above $21,000 on Jan. 17, as markets reacted to better-than-expected Chinese gross domestic product (GDP) figures. The economic release comes as U.S. traders also returned to action, following the observation of the Martin Luther King Jr. Day celebration. Ethereum rose briefly above $1,600 earlier in the session. Bitcoin Bitcoin (BTC) rose back above the $21,000 mark on…
Silvergate Bank, which currently faces a class-action lawsuit over its FTX and Alameda dealings, has announced a $1 billion net loss attributable to common shareholders in the fourth quarter of 2022. In a report published by the United States Securities and Exchange Commission (SEC), the digital asset bank highlighted that it saw significant outflows of deposits in the last quarter…
The number of Ethereum (ETH) validators has hit 500,000, per data from BeaconScan, ahead of March’s scheduled Shanghai upgrade. A validator secures a proof-of-stake (PoS) blockchain by validating transactions on the network and protecting it from double-spending errors, among other activities. To use validator software in Ethereum, you need to be able to stake a significant initial investment of 32…
Vueling, a low-cost Spanish airline, has announced it is exploring the functionality of blockchain and NFT (non-fungible token) technology to accept cryptocurrency as a means of payment for its services. The company enlisted the aid of Criptan, a registered Spanish cryptocurrency exchange, and aims to open this payment option for users by Q3 2023. Vueling to Collect Payment in Crypto…
Various tokens from popular metaverse projects have experienced explosive price growth over the last seven days, outpacing even market leaders like Bitcoin and Ethereum, according to market data from CoinGecko. MANA, the native token of the popular Web3 game Decentraland, rallied an eye-watering 81.9% over the week and currently trades for a fraction over $0.72. MANA’s biggest rival, The Sandbox’s…
