The Polygon network, formerly the Matic network, is an Ethereum-scaling protocol that reduces cost and embeds high security. In a short span, Polygon has gained a high level of traction. A string of solutions on a single network sets Polygon apart from other Ethereum scaling projects. It empowers developers to zero in on a scaling
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Bitcoin’s downturn continued on Friday, as prices fell for a third consecutive session, leading to a move below $28,000. Market sentiment has shifted in recent days, as traders began taking profits from last week’s high. Ethereum was also lower, and is now trading around the $1,900 region. Bitcoin Bitcoin (BTC) moved lower for a third
Bitcoin (BTC) hit new intraday lows on April 21 as traders warned that $25,000 might come next. Trader: $25,000 BTC price would be “absolutely fine” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD struggling to preserve $28,000 as support on Bitstamp. The pair looked “weak,” in the words of one analyst, as overnight events failed to
Decentralized finance (DeFi) protocol 1inch has deployed its aggregation and limit order protocols on Ethereum layer-2 scaling solution zkSync Era to tap into faster and cheaper transactions. 1inch Network is the latest of a host of Ethereum-based platforms and services to deploy on the zero-knowledge proof (zk-proof) based scaling platform. Uniswap, SushiSwap, Maker and Curve
The Texas House of Representatives approved a bill that would require crypto exchanges to maintain reserves “in an amount sufficient to fulfill all obligations to customers” on April 20. Should the bill pass the Senate and receive the governor’s signature, it could become law by September 1, 2023. The bill introduces amendments to the Texan Finance
A bill signed into law on April 11 has made gold and silver legal tender in the U.S. state of Arkansas, allowing citizens to use gold and silver coins to pay debts. The bill also clarifies that gold and silver “specie” (coins) will not be considered property for tax purposes, and transactions made with these
Bitcoin (BTC) fell below $29,000 into April 20 as bulls faced a battle for ground reclaimed in March. Will $30,000 become Bitcoin’s latest “Bart Simpson”? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD heading to $28,800 on Bitstamp. Earlier wicks below $28,600 were quickly bought up, but Bitcoin still threatened to flip $29,000 to
The price of Dogecoin (DOGE) has almost doubled after bottoming out at $0.0491 in June 2022, alongside a similar recovery across the cryptocurrency market. On April 20, DOGE is trading for as high as $0.0942, up around 94% versus the last year’s bottom. But, despite its impressive rebound, its price is still 88% below its
Criticism has been leveled at a new euro-pegged stablecoin released in France due to a decision to restrict peer-to-peer transactions. French bank Societe Generale-Forge (SGF) released the Ethereum-based stablecoin called EUR CoinVertible (EURCV) on April 20 which is available to only qualified institutional clients. According to observers who reviewed its smart contract code, ERC-20 transfers
Criticisms of the United States Securities and Exchange Commission (SEC) are mounting as the agency remains unrelenting in its war on crypto. On April 21, Web3 venture capital firm Paradigm published a policy piece on the problems with SEC registration. It claimed that SEC chair Gary Gensler’s “attempt to brute force crypto assets that may
Our weekly roundup of news from East Asia curates the industry’s most important developments. Three Arrows Capital (3AC), a once bourgeoning Singaporean hedge fund worth an estimated $10 billion at is peak, was utterly obliterated by the bear market last year. However, the carnival it has created since the initial blowup still lives on, and
According to onchain data, a bitcoin whale address transferred 2,071.5 bitcoin, worth approximately $60 million, after remaining dormant since December 19, 2013. Interestingly, this bitcoin address is linked to two wallets that sent 10,000 BTC last summer for the first time in nine years and are associated with the now-defunct exchange Mt Gox. 2,071 Bitcoin
The so-called Bitcoin (BTC) soccer team, Real Bedford Football Club, won the United Kingdom’s South Midlands League for the 2023 season. Fans from all over the world, from Vancouver to Beijing, flew in to watch the last home game and see the trophy raised. 327 fans turned up, many of whom had traveled thousands of
A pair of computer science researchers recently published pre-print research indicating that the nascent cryptocurrency market is beginning to show a level of maturity similar to the traditional equities market. Dubbed “Collective dynamics, diversification and optimal portfolio construction for cryptocurrencies,” the paper was written by Dr. Nick James, a fellow at the University of Melbourne’s
Though a crypto-focused regulatory framework still needs approval from the European Council before final passage, many in the space have reacted positively to the Markets in Crypto Assets, or MiCA, bill moving forward. On April 20, the European Parliament voted to pass MiCA after two delays starting in November 2022. The crypto framework aims to
The past few weeks have seen a wave of zero-knowledge proof project launches, including Polygon’s zkEVM and Matter Lab’s zkSync Era on mainnet, and the Linea zkEVM from ConsenSys on testnet. They join StarkWare’s long-running StarkEx solution and its decentralized cousin StarkNet along with a variety of other projects in development from Polygon (Miden, Zero,
Bitcoin (BTC) recovered from new ten-day lows at the April 20 Wall Street open as United States jobs data boosted investor confidence. BTC price: “Lights out” at $28,000? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing upward after hitting $28,360 on Bitstamp. Amid an ongoing correction, the pair nonetheless failed to reclaim even
In 2022, African blockchain businesses raised a total of $474 million, a 429% increase from what was raised in the year earlier, the latest CVVC African blockchain funding report has revealed. The custody and exchanges category raised over $250 million, which is equivalent to more than 50% of funds raised by blockchain companies. South Africa
The saga of the Turkish cryptocurrency exchange Thodex continues, with the founder being finally brought back home in two years after the platform halted trading. Faruk Fatih Ozer, founder and former CEO of Thodex, has been extradited from Albania to Turkey, Cointelegraph Turkey reported. Facing charges of fraud and money laundering, the local police immediately
Prosecutors in Montenegro have reportedly issued the indictments to Terra co-founder Do Kwon after arresting the executive in late March. The Prosecutor’s Office of the State of Podgorica has indicted former Terraform Labs co-founder and former CEO Kwon for forgery of legal documents, the Korean industry-focused news agency Block Media reported on April 20. The