Metcalfe’s Law suggests that the more people who use a cryptocurrency, the more valuable and useful it becomes.
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Access real-time blockchain and cryptocurrency news updates from around the globe.
Binance's CZ warns crypto community about emerging scam
The scheme consists of mirroring addresses and sending dust transactions to users to trick them into sending funds to the scammer's wallet.
Price analysis 8/2: BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOT
Bitcoin is witnessing a strong battle between the bulls and the bears with the sellers currently holding a slight edge.
Price analysis 8/2: BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOT
Ratings agency Fitch downgraded the United States’ long-term credit rating from AAA to AA+ on Aug. 1 and this move dented the risk on sentiment. The U.S. equities markets witnessed profit-booking on Aug. 2 and the cryptocurrency market’s recovery stalled in its tracks.
However, after the knee-jerk reaction, the markets may settle down. The cryptocurrency markets are likely to keep their focus on the news and events surrounding the Bitcoin (BTC) spot exchange-traded fund (ETF) applications. Bloomberg ETF analysts Eric Balchunas and James Seyffart said in a statement that the possibility of an ETF application getting greenlighted has surged from 1% a couple of months ago to 65%.
Daily cryptocurrency market performance. Source: Coin360The recent developments in the crypto sector have rejuvenated the Bitcoin bulls. Software development firm MicroStrategy founded by Michael Saylor is planning to raise up to $750 million via a stock sale, with the aim to use the funds for working capital and to buy more Bitcoin. The firm already holds 152,800 Bitcoin worth about $4.5 billion at current prices.
Will buyers defend the immediate support levels in Bitcoin and altcoins or could the bears overpower the bulls? Let’s study the charts of the top-10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin’s volatility picked up on Aug. 1. The bears pulled the price below the immediate support at $28,861 but the long tail on the candlestick shows aggressive buying at lower levels.
Price analysis 8/2: BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOT
Bitcoin is witnessing a strong battle between the bulls and the bears with the sellers currently holding a slight edge.
US DoJ is concerned about a run on Binance should prosecutors bring fraud charges: Report
Officials reportedly speculated an indictment against Binance in the U.S. could cause a run on the exchange similar to what happened with crypto exchange FTX in November 2022.
Web3 startups queue up: Consensys Startup Program partners with Cointelegraph Accelerator
Cointelegraph Accelerator participants will get a headstart with Consensys’ Web3 solutions, including MetaMask, Infura and Linea zkEVM.
Ukrainian government reports $81M tax loss from unregulated crypto exchanges since 2013
A crypto bill signed into law in 2022 paved the way for the Ukrainian government to amend its tax code, but local exchanges still largely operate outside this framework.
Decentralized Web3 data service taps ZK-proofs for tamper-proof SQL queries
Space and Time launches zero-knowledge proof tool for its decentralized database platform.
Litecoin halving completes as LTC sees increased payments adoption
The Litecoin halving event has been completed with block rewards now halved at 6.25 Litecoin (LTC) per block.
On Aug. 2, the Litecoin blockchain went through its automated halving procedure at block 2,520,000. LTC miners are now getting half the rewards and the clock has been reset for the next halving in roughly four years' time.
Litecoin founder Charlie Lee commented on the discrepancies between the different halving countdown timers, suggesting that the NiceHash one was the most accurate. However, all of them agreed on an Aug. 2 date.
Moreover, LTC prices have been down trending since early July when they topped $110 for the first time since April 2022. The silver to Bitcoin’s gold is currently hovering around the $92 level where it was this time a fortnight ago.
Speaking on the adoption of Litecoin as a payment method, BitPay CEO Stephen Pair told Cointelegraph that Litecoin and Bitcoin Lightning payments had their best months in recent history on the global payments platform.
KuCoin suspends Bitcoin and Litecoin mining pools
"We deeply regret any inconvenience this might cause and we remain grateful for your unwavering support and understanding," the exchange wrote.
Blockchain IOT firm Nodle goes open source with Web3 bluetooth ‘nanocomputer’ sticker
Nodle unveils open source bluetooth ‘nanocomputer’ N1 sticker aimed at increasing IoT connectivity across industries.
ICP-based blockchain chat app launches ‘Communities’ to compete with Discord
OpenChat implemented a new feature that allows admins to create groups within groups, similar to Discord’s channels within servers.
ICP-based blockchain chat app launches ‘Communities’ to compete with Discord
OpenChat implemented a new feature that allows admins to create groups within groups, similar to Discord’s channels within servers.
Deposit risk: What do crypto exchanges really do with your money?
While depositing may be easy, what some crypto exchanges do with your money behind the scenes can range from concerning to criminal.
Deposit risk: What do crypto exchanges really do with your money?
So, you’ve deposited some cryptocurrency onto an exchange. You expect that these funds will be held in your name as a liability, with safeguards in place to make sure that you can withdraw them when you wish.
However, this is not necessarily the case.
Sitting down with Magazine, Simon Dixon, CEO of global online investment platform BnkToTheFuture, warns that the murky lines between regulations in the crypto industry mean that customers must be extremely cautious about where they stash their crypto.
“[The cryptocurrency industry] was created by businesses that want to build financial institutions, and robust financial history has shown that if you leave them to their own devices, they won’t respect client money.”
Take FTX for example. Dixon notes that former FTX CEO Sam Bankman-Fried allegedly treated customer funds as if they were his own, tipping billions into Alameda Research.
Deposit risk: What do crypto exchanges really do with your money?
While depositing may be easy, what some crypto exchanges do with your money behind the scenes can range from concerning to criminal.
Deposit risk: What do crypto exchanges really do with your money?
While depositing may be easy, what some crypto exchanges do with your money behind the scenes can range from concerning to criminal.
Deposit risk: What do crypto exchanges really do with your money?
While depositing may be easy, what some crypto exchanges do with your money behind the scenes can range from concerning to criminal.
Deposit risk: What do crypto exchanges really do with your money?
So, you’ve deposited some cryptocurrency onto an exchange. You expect that these funds will be held in your name as a liability, with safeguards in place to make sure that you can withdraw them when you wish.
However, this is not necessarily the case.
Sitting down with Magazine, Simon Dixon, CEO of global online investment platform BnkToTheFuture, warns that the murky lines between regulations in the crypto industry mean that customers must be extremely cautious about where they stash their crypto.
“[The cryptocurrency industry] was created by businesses that want to build financial institutions, and robust financial history has shown that if you leave them to their own devices, they won’t respect client money.”
Take FTX for example. Dixon notes that former FTX CEO Sam Bankman-Fried allegedly treated customer funds as if they were his own, tipping billions into Alameda Research.