The decentralized application industry pushed above $40 billion in smart contract deposits in February 2021, and currently the figure stands at $59 billion. To date, “real money” continues to flow into the sector, and on Aug. 29, gaming startup Limit Break raised $200 million. The project gained popularity after the successful launch of its DigiDaigaku
Month: August 2022
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Studies show that most people who attempt to wash trade nonfungible tokens (NFTs) are unprofitable. But that doesn’t stop them from trying, which makes it a glaring regulatory and enforcement issue for the industry. In wash trading, manipulators buy and sell an asset between themselves to create the appearance that the asset is in higher
Bitcoin (BTC) fluctuated around the key $20,000 mark into Aug. 31 as the outlook on United States inflation darkened. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD again dipping below the last halving cycle’s top overnight, only to regain lost ground to circle $20,300 on the day. The rangebound moves accompanied modest recoveries for
LEO rose to a six-week high on Wednesday, as prices rallied for a fifth consecutive session. The move came as the token raced past a key resistance level, on its way to today’s peak. Near protocol was another notable gainer, climbing for a third straight day. UNUS SED LEO (LEO) Unus Sed Leo (LEO) was
Avalanche (AVAX) bulls snubbed the sensational claims made by a self-proclaimed whistleblower website that the project’s parent firm, Ava Labs, paid lawyers to damage its competitors’ reputation. Avalanche price recovers from serious allegations AVAX’s price established an intraday high of $19.75 on Aug. 30, two days after bottoming out locally at $17.50, amounting to a
After forging a minor recovery of sorts earlier this month, the crypto market has returned to exhibiting high levels of volatility over the past two weeks. This trend has pervaded the market since late last year, with the total market capitalization of the digital asset industry having dipped from an all-time high of $3 trillion
Crypto advertising has been plastered across every available sporting surface since the bull run of 2021, from stadium naming deals and team’s playing kits to Formula One racing car liveries. But in the current bearish market conditions, it seems hard to calculate a return on the ubiquitous spending of 2021’s crazy big advertising. In Australia,
For nearly a year now, a mysterious Axie Infinity wallet has been quietly amassing billions of Smooth Love Potion (SLP), the in-game cryptocurrency powering one of the industry’s most popular play-to-earn (P2E) crypto games. Today, the anonymous whale wallet now holds a little over 22 billion SLP — more than 50% the total circulating supply
Paraguay’s president, Mario Abdo Benítez, vetoed a bill that sought to recognize cryptocurrency mining as an industrial activity on Monday. He reasoned that mining’s high electricity consumption could hinder the expansion of a sustainable national industry. The decree stated that crypto mining uses intensive capital with low manpower usage, and therefore would not generate added
The U.S. Securities and Exchange Commission (SEC) has warned about scammers exploiting investors’ fear of missing out (FOMO) on social media. “If a crypto investment ‘opportunity’ sounds too good to be true, it probably is,” the SEC cautioned. SEC Says Scammers Often Use Social Media to Defraud Investors The U.S. Securities and Exchange Commission (SEC)
The Metaverse is quickly becoming one of the most important places for companies and individuals looking to expand their reach. New findings from research firm MarketsandMarkets predict that the Metaverse market size will grow from $61.8 billion in 2022 to $426.9 billion by 2027. In addition, a recent report from Juniper Research links nonfungible token
Ether (ETH) is the second largest crypto by market capitalization and the absolute leader in decentralized applications by deposits. Becoming a victim of its own success, the network experienced a fee hike in November 2021 when the average transaction costs surpassed $50. That’s precisely why the Merge is a critical step to implementing a fully
On Aug. 30, global investment bank UBS increased its view on the risk of the United States entering a recession within one year to 60%, up from 40% in June. According to economist Pierre Lafourcade, the latest data showed a 94% chance of the economy contracting, but added that it “does not morph into a
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Thailand’s Securities and Exchange Commission, or SEC, announced enforcement actions against the chief technology officer of crypto exchange Bitkub, who allegedly used insider information around the purchase of Bitkub Coin (KUB). In a Tuesday announcement, the Thai SEC said it had fined Bitkub chief technology officer Samret Wajanasathian 8,530,383 baht — roughly $234,000 at the
Bitcoin (BTC) fell back below $20,000 after the Aug. 30 Wall Street open as data showed hodlers selling at a loss. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView June lows look increasingly attractive Data from Cointelegraph Markets Pro and TradingView captured the latest dive below the 2017 bull market peak for BTC/USD, with United States
Flow rose for a second consecutive session on Tuesday, as the token climbed by 12% earlier in the day. The rebound comes after prices fell to a one-month low over the weekend. Cosmos was also in the green, as it, too, hit a five-day high. Overall, the global crypto market cap is up 0.68% as
Interoperability-focused blockchain Flare Network has partnered with software infrastructure firm Lena Instruments to implement a crowdfunding mechanism that lowers the risks associated with startup investing. Lena Instruments announced what it called a “CloudFunding” launchpad, which lets Flare investors allocate a percentage of the rewards that they earned to investments in new crypto startups without moving
Bitcoin (BTC) heads into the first week of September on a rocky road downhill after United States markets’ Jackson Hole rout. After the U.S. Federal Reserve reinforced hawkish comments on the inflation outlook, risk assets sold off across the board, and crypto is still reeling from the aftermath. A fairly nonvolatile weekend did little to
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