Cryptocurrency News Official TheBitTimes.com

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Crypto traders have seen the highs and lows of four crypto bull markets in the past. With Bitcoin (BTC) doubling from its recent lows, we have concluded the first part of this fifth bull market and have reached a critical juncture. Up until now, Bitcoin dominated, but as this bull market progresses, we will likely see altcoins outperforming as crypto traders are becoming more confident that this bull market has many months left. What is changing? After many quarters of declining revenues for the Ethereum (ETH) ecosystem, those revenues are bottoming out from depressed levels; this could signal a tradeable bottom for ETH. While revenues have only climbed back into the summer 2023 range of $30 million in weekly fees, the shocking number of just $12.1 million during the week of Oct. 9 might be behind us. A tactical bullish trade could...

Grayscale Investment submitted an application with the SEC seeking to reshape its current Ethereum-based trust into an exchange-traded fund tied to Ether’s spot price. The conversion move was disclosed in a Form 19b-4 SEC filing made by the New York Stock Exchange (NYSE) Arca, Grayscale’s chief legal officer Craig Salm confirmed via a post on X (formerly Twitter). If successful, the bid would convert the largest Ethereum-focused investment fund from a publicly traded private trust to a spot Ether ETF.  Today @Grayscale filed a 19b-4 to convert $ETHE to a spot #Ethereum ETF. The justification is simple: the recently effective #ETH futures ETFs are the same as spot ETH ETFs across the relevant regulatory factors. More in the PR here: https://t.co/mJDo4m0hgC — Craig Salm (@CraigSalm) October 2, 2023 Grayscale Ethereum Trust, which trades under the ticker ETHE, commands $5 billion in assets under management (AUM) and accounts for over 2% of ETH’s circulating supply at press t...

DeLabs has promised to return the $3 million grant initially provided by Polygon Labs to support y00ts from Solana to Polygon. Non-fungible token project y00ts is again switching blockchain networks, only four months after bridging the majority of its NFTs from Solana to Polygon. DeLabs, the NFT firm behind y00ts, announced via its X (Twitter) account on Aug. 9 it will soon be migrating to Ethereum in line with its DeGods NFT collection. 1. y00ts will be migrating to Ethereum. — y00ts (@y00tsNFT) August 9, 2023 The NFT collection had mostly migrated from Solana to Polygon in April. The move was first initially announced in December, with the migration starting officially on March 28. By March 30, Polygon announced 11,633 of a total of 15,000 y00ts NFTs had been bridged. DeLabs said the move was to unite its y00ts community with its DeGods community. DeGods had also announced it would be bridging off Solana in December and similarly began its migration from Solana to Ethereum ...

Patrick Hansen, a Circle executive, is concerned that entities involved in Maximal Extractable Value (MEV) activities on Ethereum and other smart contract platforms might be banned from operating in the European Union (EU) once the Markets in Cryptoassets (MiCA) regulation comes into effect MiCA, adopted by the European Parliament on April 20, 2023, marks a significant milestone as the first clear legislation governing the issuance and provision of services related to crypto-assets and stablecoins. Its enforcement is scheduled between mid-2024 and early 2025. You might also like: MiCA explained: What does the EU’s first crypto regulation mean for the industry? Although progressive, MiCA’s Article 92, which aims to prevent and prohibit market abuse involving crypto-assets, is particularly interesting. Specifically, lawyers and industry stakeholders have drawn attention to this provision, as it holds potential implications for MEV participants operating within the EU. ...

Unstoppable Domains and Ethereum Name Service have dominated the decentralized domain name space as competitors until now. Two of the biggest platforms powering Web3 decentralized domain s have partnered up after Unstoppable Domains announced support for .eth domain names from Ethereum Name Service (ENS). The two service providers have been central pillars in the Web3 domain space, allowing users to create human-readable domain names and cryptocurrency wallet addresses. Decentralized domain s also act as a profile across the Web3 ecosystem unlocking a host of functionality. .eth is coming to Unstoppable. Unstoppable is now your one-stop shop for Web3 domains. Buy and manage your .eth, .nft, or .x domains all in one place. Better yet? We’re introducing new functionality that makes buying .eth domains easier and more seamless. pic.twitter.com/lKB5yNwuD7 — unstoppable.polygon (@unstoppableweb) July 17, 2023 As Cointelegraph previously explored, Unstoppable Domains and ENS acc...

InQubeta, an AI-based crowdfunding platform, is gaining attention as a potential competitor to ethereum (ETH), leading to a shift in investor sentiment . InQubeta introduces a crowdfunding platform that connects crypto investors with AI start-ups, creating a novel way for investors to participate in AI-driven projects. The platform’s fractional investment model, powered by its native token QUBE, provides investors with transparent and accessible access to the AI market. This approach has attracted retail investors previously limited in their investment options. While Ethereum has long been the leading smart contract platform, InQubeta is positioning itself as a contender. Focusing on the intersection of AI and blockchain, InQubeta brings new features that differentiate it from Ethereum. The project’s emphasis on AI technologies, a secure investment ecosystem, and strategic partnerships with AI start-ups make it an appealing alternative for investors seeking fresh op...

Last year, Etherscan admitted a big problem with how it labels token transfers, namely that ‘From’ labels are easy to spoof. Spoofing is when someone disguises a sender’s information to fool victims into believing that they’re interacting with a trusted source. Spoofed ERC-20 token transfers look similar to legitimate ones, with names and symbols that look identical to their legitimate counterparts. However, they involve a completely different token. Often, the contract address and the date on which the token was first minted are the only ways to distinguish between the real and spoof transfer. A common tactic adopted by scammers is to promise an airdrop and then disappear with victims’ ETH once they’ve purchased the fake token. Besides stealing ETH, scammers can use spoof tokens to redirect investors to phishing sites and steal funds after they authorize access to their MetaMask. In other cases, traders will tag an address belonging to a wh...

Bitfinex announced the commencement of a peer-to-peer trading platform in Argentina, Colombia, and Venezuela, in an effort to cater to the growing market for digital assets in Latin America. Bitfinex, a global cryptocurrency exchange, has initiated a peer-to-peer (P2P) trading service in Argentina, Colombia, and Venezuela. As per the company’s statement, users from these regions now have the ability to trade in various cryptocurrencies, including bitcoin (BTC), ether (ETH), tether tokens linked to the euro (EURT) and USD (USDT), and tether gold (XAUT), which mirrors the price of gold. The firm further stipulated that consumers can opt for their preferred payment method and national currency for transactions. Something BIG is happening! #BitfinexP2P is redefining P2P trading , driving economic growth, and promoting financial inclusivity in LATAM. Learn more: https://t.co/xHloxLnbTh pic.twitter.com/gw2Y9X4CfP — Bitfinex (@bitfinex) June 27, 2023 Bitfinex has been pr...

The crypto market cap slides 2% more on Thursday to extend its fall this week. The global crypto market cap now reaches below $1.10 trillion, with top altcoins such as Ethereum, XRP, Cardano, Polygon, and Solana near to breaking key support levels. advertisement Fitch May Downgrade US Rating To Negative Amid Debt Ceiling Impasse Rating agency Fitch placed United States’ “AAA” Long-Term Foreign-Currency Issuer Default Rating (IDR) on Rating Watch Negative. Fitch said it will downgrade the rating if President Joe Biden’s administration and congressional Republicans do not raise or spend the debt limit by June 1. Treasury Secretary Janet Yellen warned that the US Treasury will run out of funds by June 1. The Treasury General Account fell to $57 billion from $316 billion earlier in May, with the opening balance of $636 billion this fiscal year. Fitch’s downgrade will affect debt securities, treasury bills, and the co...

Bitcoin ordinals have officially disrupted the NFT market, with the gap between Bitcoin NFT and Ethereum NFT daily volume s getting slimmer by the day. Yesterday, Bitcoin NFT sales volume sat at $14,368,075, just $400,000 or 2.45% shy of Ethereum’s $14,729,129. More than 7.7 million inscriptions have been added to the Bitcoin blockchain to date. Sales of at least two bitcoin NFT collections have even pulled ahead of the Bored Ape Yacht Club collection with the bitcoin “Space Pepe” currently topping the charts. Bored Apes are lagging some way behind in sixth place. Ethereum NFTs are crashing while Bitcoin Ordinals are soaring Read more: Ethereum NFTs continue to stall despite brief Milady pump “Bitcoin Frogs”, also on the Bitcoin blockchain, is currently in fourth place but earlier this week, it briefly held top spot . Despite Bitcoin ordinals soaring across the board since the start of the year, they’re causing considerable debate around their overall impact...

Ethereum's supply across whale addresses has dropped consistently since March 2020, offset by greater retail interest. The share of Ethereum (ETH) held by so-called whale addresses has dropped since Ethereum's Shapella upgrade in mid April, suggesting that large investors may be leaning bearish in t near term. ETH whale population shrinks post-Shapella The amount of Ether held by addresses with 1,000-10,000 ETH, or " whale s," was over 14.033 million ETH on May 1, according to Glassnode data. In comparison, the count was 14.167 million ETH on April 12, when Shapella went live on Ethereum. Ethereum whale net position change. Source: Glassnode Interestingly, a week before the Shapella upgrade, the Ethereum whale cohort held 14.303 million ETH, the highest amount in 2023 "Shrimps" only ones buying ETH since Shapella Ether's price is down over 3.5% since the Shapella upgrade— suggesting that several whales may have indeed "sold the news." Interest...

Bitcoin and select altcoins continue to face selling at higher levels, a sign that the bears have not yet given up. The cryptocurrency market witnessed sharp volatility on April 26 on rumors that large sums of Bitcoin (BTC) were on the move from the wallets linked to the defunct cryptocurrency exchange Mt. Gox and the United States government. A minor positive is that Bitcoin and select altcoins held their respective support levels. After Bitcoin’s sharp rally in 2023, some traders seem to be planning to book profits. Coinglass reported that the Bitcoin balance held at Binance soared by 50,000 Bitcoin in the past 30 days. While this could add to short-term pressure, bulls can take solace because the increase is not identical across exchanges. Coinglass said that the aggregate increase of Bitcoin balance across exchanges was 14,000 Bitcoin. Daily cryptocurrency market performance. Source: Coin360 The next major event for the market is likely to be the U.S. Federal Reserve’s meeting on...

Ronin Network’s upcoming shift to a more decentralized consensus mechanism and partnerships with gaming studios has brought significant gains for the project’s RON token. Ronin Network’s native token RON recorded 5x gains since the start of the year thanks to its plans to shift to a Delegated Proof-of-Stake (DPoS) consensus mechanism and expand its gaming portfolio beyond Axie Infinity. The gaming-focused layer-2 Ethereum blockchain will change its current Proof-of-Authority to the DPoS consensus mechanism on April 12. The previous mechanism had around six to nine participants securing and validating transactions on the network, which put the network at a centralization risk. It was the leading cause of the $650 million hack from the Ronin network on March 29, 2022. The new DPoS consensus mechanism allows RON stakers to earn from the network’s fees and vote on the set of validators operating the network. Additionally, Sky Mavis, the team behind Axie Infinity and the Ronin Network, is...

Last week, crypto investment products witnessed their largest influx since July 2022. Inflows during the period summed up to $160 million and brought to light the growing investor confidence. However now, it seems like large institutional investors have started exercising vigilance as a precautionary measure.   According to CoinShares’ latest weekly report, crypto and other digital asset investment products saw positive flows summing up to “a lackluster” of $2.5 million. In fact, the trading volume in investment products has fallen by 33%, when compared to the prior week. Last week, $127.5 million flowed into Bitcoin. The environment was “fairly supportive,” according to CoinShares, for the largest asset noted inflows worth $8.8 million. Alongside, short-Bitcoin products noted negative flows, indicating that institutions continue to have Bitcoin’s back. Source: CoinShares Also Read: $135 Million Flows Into Bitcoin, Solana, XRP, MATIC: Highest Since July 2022 XRP lead...

March proved to be a tumultuous month for the cryptocurrency ecosystem. With volatility written all over the market, several assets benefitted from the asset’s highs and lows. Amidst this, the social volume and presence of these cryptocurrencies also followed suit. As the month comes Lunar Crush shared a chart that showed the social emergence of Bitcoin [BTC], Ethereum [ETH], and others while meme coins like Shiba Inu [SHIB] lagged. March 2023 is coming to an end. Here are the top 10 coins by one-month LunarCrush AltRank:$ btc #Bitcoin $eth #Ethereum$link #Chainlink $bnb #BinanceCoin $avax #Avalanche $doge # Dogecoin $matic #Polygon $sol #Solana $xrp #XRP https://t.co/uMtMd3PkwF… pic.twitter.com/oU6W8TL2mr — LunarCrush (@LunarCrush) March 30, 2023 As seen in the above chart, Bitcoin led the rest of the assets as the king coin surged to a high of $29,159 this month. Ethereum’s Shapella upgrade allowed the asset to land a second place on the list. Surprisingly, Chainlink [LINK] too...