Shibarium, the layer-2 scaling solution for Shiba Inu, has recently witnessed a significant surge in one of its key indicators – the number of new accounts on the network. This metric soared by an impressive 860%, jumping from a mere 16 accounts on June 15 to 154 the following day. This sudden increase in new
Crypto
Liquid staking and destablecoins have emerged as significant trends in the cryptocurrency space over the past year. These concepts involve utilizing decentralized assets that have been staked through a liquid-staking protocol as collateral. Unlike traditional stablecoins that aim for price parity with fiat currencies, destablecoins do not strive for absolute stability. Instead, they leverage the
During the annual Consensus conference in Austin, Bitwise, a leading U.S. spot Bitcoin ETF issuer, painted a picture of a future where the convergence of the cryptocurrency industry and artificial intelligence (AI) could potentially inject a staggering $20 trillion into the global GDP by 2030. This bold forecast ignited discussions among industry leaders regarding the
The recent report released by Coinbase has shed light on the concerning trend of a decreasing number of crypto developers in the United States. Over the past five years, there has been a notable 14-point decrease in US-based crypto developers, leaving just 26% of the talent pool in the country. This decline in crypto talent
The recent developments in the ongoing saga between Nigeria and Binance have seen the country dropping tax charges against the exchange’s executives. This decision came after the Federal Inland Revenue Service (FIRS) of Nigeria withdrew the tax evasion charges against Tigran Gambaryan, Binance’s head of financial crime compliance, and Nadeem Anjarwalla, the exchange’s director for
Bitcoin (BTC) has experienced a 4.5% decrease in value over the past week, reaching a monthly low of $65,000. This drop in value can be attributed to a surge in selling activity from mining entities. According to a recent report by CryptoQuant analysts, Bitcoin mining entities have been transferring a higher volume of BTC to
Recently, Bitcoin took a significant dip to a monthly low of $65,000 on June 14th. This marked a 5% decrease from the previous week. Despite this short-term volatility, the overall trend shows that Bitcoin has been consolidating since early March. Analysts have noted that Bitcoin’s price range has been relatively stable, with only an 8.3%
Ripple has announced its plans to launch a stablecoin called Ripple USD (RLUSD) in 2024 on both the XRP Ledger and Ethereum. This stablecoin is expected to act as a bridge between traditional finance and the cryptocurrency industry. Despite the excitement surrounding this development, there has been criticism from the United States Securities and Exchange
In May, KuCoin exchange’s research arm released a report on the performance of cryptocurrencies, noting a total of $1.02 billion in new investments. This amount represented a slight decrease from the previous month, highlighting a 6.4% decline from April’s total of $1.09 billion. Despite this slight decrease, the report indicated a broader scale increase of
Blockchain intelligence firm TRM Labs has reported a concerning trend in the first four months of 2024 regarding cryptocurrency deposits into crypto addresses linked to Chinese drug precursor manufacturers. The data shows that these deposits more than doubled compared to the same period in 2023, with over $26 million in cryptocurrency flowing into these networks