CryptoClan (ENG)

2022-01-14 20:23:01 Pakistan’s central bank reportedly wants to ban crypto

Pakistan’s finance and law ministries are yet to make a decision on a potential blanket ban on crypto in the country. The State Bank of Pakistan (SBP) is reportedly seeking to ban all cryptocurrency transactions in Pakistan.

Pakistan’s Sindh High Court reportedly held a hearing related to the legal status of cryptocurrencies in the country, in which several Pakistani authorities, including the SBP, submitted a document to the court, arguing that cryptocurrencies like Bitcoin (BTC) are illegal and cannot be used for trade. Open / Comment

2022-01-14 17:31:01 Cash App Set To Bring Bitcoin Lightning Network To Its 36 Million Users

The Lightning Network has been integrated into Cash App, a peer-to-peer payment service operated by Block, previously Square Inc. The feature allows transactions between parties that aren't connected to the blockchain network.

Steve Moser, editor-in-chief of TheTapeDrive and a contributor to MacRumors, tweeted in November that Cash App "Is working on Lightning network integration." Moser said he discovered proof that Cash App was preparing to implement the additional features in December. Open / Comment

2022-01-14 13:39:56 Ethereum price gears up for explosive rally as buying activity accelerates

Buying activity has accelerated in the Ethereum network. Analysts at the crypto intelligence platform IntoTheBlock have noted a spike in buying activity in the altcoin.

As buying activity accelerated, over 16,000 Ethereum tokens were bought within 60 minutes earlier today. The demand across exchanges pushed the altcoins price to $3,300 again, based on data from IntoTheBlock. Open / Comment

2022-01-14 09:08:01 Bitcoin is ‘integral part of digital asset revolution’, says IMF

IMF economist Tara Iyer said that "Crypto assets such as Bitcoin have matured from an obscure asset class with few users to an integral part of the digital asset revolution", adding this transition comes along with financial stability concerns.

In absolute terms, the overspills from Bitcoin to global equity markets are significant, explaining about 14% to 18% of the variation in equity price volatility and eight to 10% of the variation in equity returns. Open / Comment

2022-01-13 21:12:01 The Craze For Ethereum NFTs Is NOT Slowing Down

NFTs based on Ethereum were right in the spotlight of 2021's biggest sales and grabbed the attention of many industries that are now diving into the world of smart contracts to find large profits.

Last year, Ethereum smart contracts linked to NFT marketplaces and collections saw an influx of around $20 billion, and the pace has not slowed down in 2022. In 2022 alone, the NFT activity of OpenSea has traded around $2 billion worth of Ethereum. Open / Comment

2022-01-13 18:29:01 The trading volume on decentralized Ethereum exchanges exceeded $1 trillion in 2021. The segment leader Uniswap accounted for more than 64% ($686 billion). SushiSwap exceeded $156 billion, Curve - $84 billion.

The year 2021 opened a lot of L2 solutions to the cryptocurrency community to scale Ethereum. The total blocked liquidity in such protocols exceeded $5.5 billion by the end of the year. Arbitrum remains the segment leader ($2.4 billion). The top three are dYdX and Loopring with almost $1 billion and more than $550 million, respectively. Open / Comment

2022-01-13 15:12:02 China officially labels crypto mining as 'obsolete'

China's top economic planning body has officially designated crypto mining as "Obsolete," reinforcing government efforts to stamp out the industry entirely.

The commission did not provide a deadline for crypto mining to be officially eliminated in China. China was home to more Bitcoin mining than anywhere else in the world until last year, when goverment clampdowns drove the majority of crypto miners out of the country. Open / Comment

2022-01-13 12:48:01 Breaking: Iran to Permit Use of Cryptocurrencies in International Settlements, Reports Reveal

Authorities in Iran are preparing to allow the employment of cryptocurrencies for international settlements. According to local media, central bank and government officials have given the green light to adopt a mechanism using digital coins in the field of foreign trade. Open / Comment

2022-01-13 09:11:01 A 22-year-old OpenSea user from Indonesia released an NFT collection of 933 single-type selfies taken throughout 2017-2021 "behind his PC."

Suddenly it went viral and made it into the top 30 best-selling collections on the marketplace in 24 hours. Tokens were purchased by 419 users - the collection's combined trading volume exceeded 245 ETH (over $800,000). Open / Comment

2022-01-12 21:11:02 Spongebob Meme Crypto Jumps 3,100% in One Day

Just when everyone thought meme stocks were finally dead Spongebob Square meme coin showed us just how wrong we truly were.

Spongebob Square was only released just a few hours ago on this Tuesday January 11th, 2022 with an opening listing price per coin of $0.000000000024. Open / Comment