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Ethereum, the world’s second-largest blockchain network, persistently grappling with scalability issues due to its popularity and increased network congestion, has had the concept of Layer 2 chains in mind since 2014. As more users and decentralized applications (dApps) were released, transaction costs skyrocketed, and processing times slowed significantly. To address these challenges, developers...
The meme coin sector emerged as a rare winner the past day despite the broader market drawdown that pushed prices of major digital assets like Bitcoin down.
These meme assets’ upsurge can be attributed to the unexpected reemergence of Keith Gill, also known as Roaring Kitty and DFV, who played a pivotal role in initiating the GameStop short squeeze of 2021.
GameStop 2.0?
On May 13, Gill reemerged...
Quick Take
The Ethereum to Bitcoin (ETHBTC) ratio recently hit 0.046, a low not seen since April 2021, briefly revisiting levels from April 2024. This downward trajectory highlights Ethereum’s ongoing struggle against Bitcoin’s dominance in the digital assets market. The ETHBTC pair is down 30% in the past year and over 11% year-to-date.
ETHBTC: (Source: TradingView)
Market movements are...
Deutsche Bank has shown increased interest in digital assets and tokenization by joining the Monetary Authority of Singapore’s Project Guardian. This initiative tests asset tokenization applications in a regulated environment, focusing on the viability and potential integration within the financial markets.
Participation in Project Guardian will also involve Memento Blockchain and Interop Labs....
Quick Take
Glassnode data suggests that long-term holders who have held Bitcoin (BTC) for over 155 days are actively accumulating after offloading around 1 million BTC since late 2023. This cohort, known for selling into profits when Bitcoin reaches new all-time highs, has increased its holdings by approximately 70,000 BTC from the cycle bottom.
Long/Short-Term Holder Threshold: (Source:...
A newly published cyber threat report from Avast has revealed substantial dominance of social engineering in cyber threats during the first quarter of 2024. Per the report, nearly 90% of cyberattacks on mobile and 87% on desktop devices involved scams, phishing, and malvertising, exploiting human vulnerabilities more than technical weaknesses.
A significant rise in scams using sophisticated...
Coinbase said it resumed operations after a system-wide outage that impacted its website, mobile, and API for over three hours.
However, several customers of the crypto trading platform on social media claimed this was false as they could still not withdraw their funds.
One X user, Nigel Dias, revealed that he attempted to send his crypto but was met with a prompt that read, ” Sending to this...
Quick Take
Farside data reports that US Bitcoin (BTC) exchange-traded funds (ETFs) recorded the biggest inflow since May 6, totaling $66.0 million.
Leading the charge was Fidelity’s FBTC, which saw a $38.6 million inflow, bringing its total net inflow to an impressive $8.2 billion. Bitwise’s BITB followed closely, attracting a $20.3 million inflow – its largest since May 3 – and taking its total...
Kaiko Research said Bitcoin’s (BTC) correlation with equities is rising, with a 90-day correlation rising to 0.17 last week after hitting a multi-year low of 0.01 in March.
Meanwhile, Brazil experienced a significant rise in volume and is outpacing the dollar.
Bitcoin’s 90-day correlation with equities rose to 0.17 the week of May 5, above its multi-year low of 0.01 in March, according to the...
OpenAI announced a new model, GPT-4o, which will soon allow real-time conversation with an AI assistant.
In a May 13 demo, OpenAI members showed that the model can provide breathing feedback, tell a story, and help solve a math problem, among other applications.
Head of Frontiers Research Mark Chen noted that, although users could previously access Voice Mode, the new model allows interruptions,...