Total value locked (TVL) on Optimism, a layer-2 scaling solution for the Ethereum blockchain, has increased 284% in the last month, according to data from DefiLlama. Users lending and borrowing assets on Aave through Optimism’s layer-2 chain make up the vast majority of TVL. Ethereum Optimism TVL Surges In anticipation of The Merge update, which
Per a report from news outlet Reuters, payment company Ripple is exploring the possibility of acquiring the assets of bankrupt crypto lender Celsius Network. The purchase might materialize via Ripple Labs, according to a company spokesperson. Ripple Labs is currently in a legal battle with the U.S. Securities and Exchange Commission (SEC) due to the
Bitcoin (BTC) has been posting higher lows for the past eight weeks, but during this time, BTC has not been able to flip the $24,000 resistance to support on at least three different opportunities. This is precisely why the $475 million Bitcoin options expiry on Aug. 12 might be a game changer for bulls. Considering
Data shows the Ethereum open interest has surged up to near all-time high values as the ETH 2.0 merge comes closer. Ethereum Open Interest Has Sharply Risen Up Recently As per the latest weekly report from Arcane Research, the ETH open interest in futures and perps has surged up to 4.2 million ETH in recent
In this week’s newsletter, read about Ethereum co-founder Vitalik Buterin’s proposal for stealth nonfungible token (NFT) ownership. Check out how a CryptoPunk will be split into thousands of pieces to enable smaller investors to access it, and how the NFT play-to-earn game Axie Infinity plans to double down on South Korea despite regulatory hurdles. In
The United States Securities and Exchange Commission, or SEC, and the Commodity Futures Trading Commission, or CFTC, has proposed requiring large advisers to certain hedge funds to report any exposure to digital assets. In a Wednesday notice, the SEC and CFTC proposed amending their confidential reporting form for certain investment advisers to private funds of
After last June’s inflation report published by the U.S. Bureau of Labor Statistics indicated that the Consumer Price Index (CPI) reflected a 9.1% year-over-year increase, July’s CPI data has come in lower with a year-over-year increase of 8.5%. Economists polled by media publications estimated that July’s CPI data would print 8.7%, however, July’s core CPI,
The Celsius (CEL) community has rallied on Twitter once again to fight off short positions against their favored crypto token despite multiple challenges faced by the exchange, including bankruptcy and rumors of the company’s CEO fleeing from the United States. Thousands of tweets with the #CelShortSqueeze tag have been posted on the social media platform,
Institutional investors are piling into Ether-based digital asset funds, which have recorded seven straight weeks of positive inflows, according to the latest CoinShares report. Said inflows reached $16.3 million last week, adding to a total of $159 million in inflows over the last seven weeks. CoinShares Head of Research James Butterfill on Aug. 8 said
Bitcoin (BTC) regained $24,000 but failed to hit new multi-month highs on Aug. 10 as United States inflation appeared to be slowing. CPI cuts risk assets much-needed slack Data from Cointelegraph Markets Pro and TradingView confirmed hourly gains of around $1,000 after U.S. Consumer Price Index (CPI) data for July showed a slowdown versus the previous
Tornado Cash (TORN) has lost almost half its market valuation two days after being slapped with sanctions by the U.S. Treasury Department. The department accused Tornado Cash, a crypto mixer platform, of laundering more than $7 billion in cryptocurrencies, including a stash of $455 million allegedly stolen by North Korea-based hackers. Immediate reactions were followed
Bitcoin (BTC) hit multi-day lows into Aug. 10 as crypto traders braced for impact with fresh United States inflation data. Trader: Market “could get ugly” if CPI keeps rising Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $22,668 on Bitstamp at the most recent daily close — its lowest since Aug. 5.
Hot on the heels of an official announcement from USD Coin (USDC) issuer Circle Pay, stablecoin giant Tether has now also officially confirmed its support behind Ethereum’s upcoming Merge upgrade and switch to a Proof-of-Stake (PoS) consensus mechanism-based blockchain. The announcement came on the same day as its stablecoin competitor, who pledged they will only
The Department of Financial Protection and Innovation of California (DFPI) continues to bring actions against crypto interest account providers, failing to comply with the local law. After commanding BlockFi and Voyager to stop their offerings in the state, the DFPI issued a desist and refrain order to crypto lending firm Celsius. The order simply means
The aggregate total value locked (TVL) in the crypto market measures the amount of funds deposited in smart contracts and this figure declined from $160 billion in mid-April to the current $70 billion, which is the lowest level since March 2021. While this 66% contraction is worrying, a great deal of data suggests that the
On Aug 9, automated market maker Curve Finance took to Twitter to warn users of an ongoing exploit on its site. The team behind the protocol noted that the issue, which appears to be an attack from a malicious actor, was affecting the service’s nameserver and frontend. Don’t use https://t.co/vOeMYOTq0l site – nameserver is compromised.
On Tuesday, one day after the U.S. Treasury sanctioned cryptocurrency mixer Tornado Cash for its alleged role in cryptocurrency money laundering operations, intervals of 0.1 Ether (ETH) transactions began materializing from the smart contract to prominent figures such as Coinbase CEO Brian Armstrong and American television host Jimmy Fallon. It is not possible to trace the source of
Iran has placed its first official import order using cryptocurrency worth $10 million, according to a government official. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” the official added. Iran Uses Crypto to Place Import Order Iran placed its first official import
An Ethereum fork token that does not yet exist, dubbed ETHW, is trading under $100 across several crypto exchanges after debuting at $30. ETHW and ETHS begin trading ETHW is the native asset to the ETHPoW chain. ETHPoW, for now, is a possible new chain backed by proof-of-work (PoW) miners as the original chain switches
Crypto and equities markets took a bit of a tumble on Aug. 9 as traders grew a bit skittish ahead of tomorrow’s Consumer Price Index (CPI) report. The details of the print will shine a light on whether or not the Federal Reserve’s aggressive interest hikes are effective in tamping runaway inflation and it could