Ripples of the credit crisis that affected several crypto-exchanges are now being felt in the NFT space. Popular NFT-based lending platform BendDAO has now initiated a vote to approve emergency changes. This, in a bid to avert what experts are describing as a “death spiral” for the NFT market. In fact, an alarming statistic recentlyContinue reading “NFT lending platform BendDAO initiates vote to alter protocol”

Many cryptocurrencies, on multiple occasions, have followed Bitcoin [BTC] where price plunges are concerned. It was almost the same between 17 August and 18 August when the latest capitulation happened as BTC fell from $24,000. Chiliz [CHZ], the social engagement fan token, did accompany Bitcoin in the fall. However, the current situation appears to beContinue reading “Au Revoir Ethereum, Chiliz [CHZ] has relied enough on you “

Many believe that Bitcoin remains a desirable asset. However, according to Anthony Scaramucci, CEO of Skybridge Capital, it has not yet attained the “wallet bandwidth” necessary to qualify as an inflation hedge. On CNBC’s Squawk Box, the exec claimed that Bitcoin is still too much of “an early adopter technical asset.” It to be heldContinue reading “What will it take for Bitcoin to be the ‘perfect inflationary hedge’”

The crypto community is hyped about Cardano as the Vasil hard fork is expected to be released soon. Over the last few days, developers have been working extensively on the testnet. This, to ensure a smooth rollout of the Vasil hard fork.  However, ADA’s daily chart indicated that its price movement did not correspond toContinue reading “Cardano and Ethereum case studies you don’t want to miss out on”

In a recent tweet, the official Twitter account of TronDao informed how they outcompeted major cryptocurrencies. TronDao was ranked number one for the total number of active addresses compared to BTC, ETH, and XRP. One of the reasons why the crypto community has been using Tron for a lot of their transactions could be itsContinue reading “Is Tron outcompeting BTC, ETH? The answer might startle you”

After hitting the year’s lowest of $17,774 in mid-June, Bitcoin has gained a steady upward trajectory for the last two months. It also managed to cross the $24,000 mark recently. This indicated that the selling pressure on the king coin took a back seat.  However, a trend reversal happened on 18 August, which drastically decreasedContinue reading “Betting against the Bitcoin tide? Consider these on-chain metrics first”

Australia is starting to examine its domestic cryptocurrency holdings to better understand and regulate the sector. To identify which digital asset tokens are being used in Australia and how they should be regulated, the government of Prime Minister Anthony Albanese will prioritize “token mapping” this year. According to Treasurer Jim Chalmers, a public consultation paperContinue reading “Australia set to take its first steps towards crypto-regulations”

Bankrupt crypto-lender Voyager Digital has run into trouble again, this time drawing flak from its creditors. The Official Committee of Unsecured Creditors of Voyager Digital has filed an objection against the crypto-lender’s request for approving a retention bonus for its employees. According to court filings, the creditors claimed that the justification that Voyager Digital hasContinue reading “Voyager Digital’s creditors oppose retention bonus for employees”

Binance CEO Changpeng Zhao has cautioned traders about the infamous practice of jitters taking place on many cryptocurrency exchanges. The remark comes on the heels of many exchanges receiving cease-and-desist letters from the Federal Deposit Insurance Corporation (FDIC). A malpractice spread across exchanges  Called jitters or front running, this phenomenon involves a user’s sell orContinue reading “Binance CEO cautions against crypto-exchange jitters as FTX’s SBF responds”

According to the latest report by blockchain developer and researcher BliteZero, Ronin hackers have transferred the stolen assets from the Ethereum network to the Bitcoin network. Following the Ronin bridge incident in March, the hackers moved $625 million worth of USDC and ETH to the Ethereum-based crypto-mixer Tornado Cash. This made it challenging for lawContinue reading “Ronin Bridge Hack: $625M in stolen crypto-funds now on Bitcoin network”

Even though the cryptocurrency lending company, Celsius Network has faced massive trouble in the past, the price of the token has grown by 90.30% since the beginning of August.  The price started rallying around the 8 August and continued to do so till the price tested the $4.14 resistance line. Thereafter, the token proceeded toContinue reading “Is temperature rising for Celsius holders with CEL being top ten in…”

According to a report by South Korean news agency Yonhap News, virtual asset transfers for free are subject to gift tax. This, as per the guidance of the Ministry of Strategy & Finance in the country.  Only last month, the ministry had postponed its decision to tax asset gains tax to 2025. Cryptocurrency transactions to beContinue reading “South Korea: Crypto-airdrops might soon be subject to Gift Tax”