Crypto | Bitcoin | Blockchain

2023-06-13 12:15:07 Crypto Market Cap Nears $1 Trillion Threshold, a Make or Break Moment.

The total crypto market cap has experienced a notable decline in recent days as investors jumped ship amid the increasing regulatory scrutiny faced by the digital asset industry, particularly from the United States Securities and Exchange Commission (SEC). While market experts have been keeping a close eye on this trend, it is important to take a more in-depth look at the factors that are driving these changes.

One key factor that has been noted is the 200-week moving average (MA) and exponential moving average (EMA) levels. These indicators are important for assessing long-term trends and market sentiment. The 200-week MA, for example, is a long-term indicator that smoothes out price fluctuations over a span of approximately four years, providing a clear view of the overall trend. Crossing above or below the 200-week MA can signal a major shift in market direction, influencing investor sentiment and triggering significant buying or selling activity. The global crypto market cap slightly stood at $1.02 trillion, seeing a slight recovery of 0.24% in the past 24 hours.

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2023-06-12 09:26:09 TaxBit Layoffs 40% Of Workforce After $130M Valuation Boost

Crypto tax software company TaxBit laid off 80 employees (40% of its workforce) due to economic downturn and alleged securities violations. It remains a significant player in the market. Crypto tax software company TaxBit has recently laid off 80 employees, which accounts for almost 40% of its workforce. The information came to light after TaxBit announced the completion of Series B financing of over US$130 million on August 2021, making it a unicorn company with a valuation exceeding US$1.3 billion.

The Utah-based company provides tax and compliance software services to cryptocurrency holders. The company had previously reduced staff by approximately 15% last year. The crypto industry has been hit with an economic downturn, and U.S. regulators have increasingly pursued lawsuits against crypto exchanges and other startups for alleged securities violations. The US Securities and Exchange Commission (SEC) accused two major cryptocurrency platforms of violating regulations. On Monday, the SEC charged Binance and its founder with 13 offenses related to operating a “web of deception.” The following day, Coinbase was accused of operating as an “unregistered broker, exchange and clearing agency,” putting customers at risk.

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2023-06-11 13:55:53 Crypto Market Chaos With SEC, Liquidation Amount In 24 Hours Passes $300 Million

With the crackdown this past week coming from the U.S. Securities and Exchange Commission, the crypto market is currently reeling as the tokens listed as securities by the SEC in the lawsuit against Binance and Coinbase have plummeted. According to CoinGlass data, tokens that have been listed as securities by the SEC are suffering heavy losses. Specifically, in the last 24 hours, MATIC fell by 22.8%, SOL fell by 21.1%, ADA fell by 22.4%, FIL fell by 22.1%, and SAND fell by 19.3%.

Some tokens that are not listed as securities, such as OP, SUI, BSV, and EOS, also plummeted. But Bitcoin and Ether only saw a slight decline. Bitcoin’s recorded decrease at the moment is 2.3% in the last 24 hours, while that of ETH is 2.2%. More US crypto exchanges are expected to be targeted after the SEC sued Coinbase and Binance, two of the world’s top crypto exchanges, this week for allegedly violating its regulations. The SEC accused Coinbase on Tuesday of trading at least 13 crypto assets that are securities and should have been registered, while Binance, the world’s biggest cryptocurrency exchange, was accused on Monday of providing 12 digital coins without registering them as securities.

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2023-05-15 06:23:02 Ethereum Patch Set to Fix Transaction Finality Challenges After Second Bout Disrupts Network

Ethereum’s Beacon chain encountered yet another bout of transaction finality challenges, reminiscent of the glitch experienced on May 11, 2023. For over an hour, the blockchain stopped the process of finalizing blocks. However, Superphiz, an Ethereum developer, emphasized that despite this setback, “No transactions were halted” and the incident had “zero impact on chain activity.”

In a span of two consecutive days, the Ethereum blockchain encountered transaction finality challenges, commencing on May 11, 2023, and recurring on May 12. Although the initial incident lasted a mere 25 minutes, the glitch on Friday persisted for over an hour. The exact cause of these halts remains uncertain, although speculation arose regarding potential complications related to staking clients and MEV glitches. In spite of the dual setbacks encountered by the Beacon chain, Superphiz, the Beacon Chain community health consultant, reassured that the repercussions were minimal. “No transactions were halted,” the developer tweeted. “The network continued as expected.

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2023-05-14 07:30:39 OKX Wallet Launches Web3 Experience Platform To Discover Potential Projects

OKX Wallet has launched Cryptopedia, a Web3-based platform for earning and studying. Users may earn NFTs and perhaps obtain extra airdrops by executing on-chain chores using this new functionality. Cryptopia will have diverse themes for each time and will work with project partners to provide unique quest parts. Users will be able to earn airdrops and incentives by engaging in different activities on the site.

The zkSync Period is the topic of the first edition of Cryptopedia. Users who complete tasks in Cryptopedia’s zkSync issue using OKX Wallet may be eligible for zkSync airdrops and other project-related airdrops. The wallet and zkSync will be able to gather NFTs developed cooperatively. Completing OKX NFT and OKX DEX missions increases your chances of getting uncommon NFTs. Click on this link for additional Cryptopedia information. OKX Cryptedia will exhibit distinct network themes and provide clear mission goals for each stage, such as the forthcoming zkSync Era-themed event. OKX Wallet collaborates with various chosen zkSync projects to provide learning quests that will help you interact more correctly and save time.

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2023-05-13 06:27:02 US Chamber of Commerce blasts SEC's approach to ether, Coinbase

The U.S. Chamber of Commerce, one of the most influential business advocacy groups in the country, is taking up the banner of digital asset critics of U.S. regulation, and blasting the Securities and Exchange Commission's approach to ether, Coinbase, Kraken and the broader digital asset industry. Coinbase filed a rare writ of mandamus lawsuit against the SEC last month following up on a request made last summer for new rulemaking specific to digital assets.

In its own filing to the court in support of that suit, the Chamber argues that the lack of direct response from the SEC to Coinbase’s request “is causing substantial economic harm to both Coinbase and the broader business community.” The Chamber also criticizes the commission’s enforcement action against Kraken’s staking-as-a-service business. The company settled and ended that business line in the U.S., but the Chamber criticized the action as emblematic of an aggressive SEC enforcement stance that could force more digital asset companies to end offerings in the U.S. The business group also blasts the uncertainty around ether, the second-largest cryptocurrency by market capitalization, and the major area around digital assets where SEC Chair Gary Gensler has taken a different tack from his predecessor.

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2023-05-12 06:02:02 Ether Selling Pressure Post-Shanghai Upgrade Was 'Non-Event,' Says Nansen

In hindsight, the selling pressure of ether (ETH), Ethereum’s native token, turned out to be a “non-event” following the Shanghai upgrade, which enabled staking redemptions for the first time, according to a report from blockchain analytics firm Nansen. Over a month has passed since the Shanghai upgrade that marked Ethereum’s full transition to a proof-of-stake blockchain, and ETH staking deposits have surpassed withdrawals.

Shanghai, crypto bulls and bears debated extensively about the market’s potential response following the upgrade. The price of ETH has decreased about 8% to $1,851, since April 13 when Shanghai went live, per CoinDesk data. The CoinDesk Market Index, designed to measure the broad performance of the digital asset market, has dropped nearly 10% in the same time period. Crypto exchange Kraken, which complied with regulation from the Securities and Exchanges Commission to end its crypto staking-as-a-service platform for U.S customers in February, had the most withdrawals at over 646,000 ETH, with Coinbase.

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2023-05-11 05:39:02 Ordinals Wallet Airdropped Pixel Pepes NFTs After The PEPE Wave Grows Strong

The rapid rise of Bitcoin Ordinals continues as Ordinals Wallet, the newest Bitcoin wallet to come out with explicit support for Ordinals Inscriptions, has announced the NFT airdrop event along with the strong ongoing wave of FOMO Pepecoin. Bitcoin wallet service provider Ordinals Wallet announced that it had airdropped Pixel Pepes NFT to users who participated in transactions in the first week of product release.

Ordinals Wallet, which went online on February 16, is the first Bitcoin wallet to explicitly handle Ordinals Inscriptions. Users may receive, store, and see Ordinals in their wallets using the wallet. Users may now also advertise Ordinals for sale and make purchases as of March 1. The wallet eliminates the necessity for users to operate a complete Bitcoin node in order to effectively interact with the blockchain. Users just have to pay a transaction charge (which they can do in the wallet app itself). Pixel Pepes is an NFT 500 NFTs-backed project by the Solana blockchain. However, with the expansion into the Bitcoin ecosystem, its price spiked.

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2023-05-10 07:09:02 HappyMiner Offers Lucrative Opportunities To Make Money Through Cloud Mining Services

HappyMiner is a licensed cloud mining company that gained traction among cryptocurrency enthusiasts in recent years. The US-based cloud mining company provides such services to investors to expand their hashing power or rent more resources. With HappyMiner, more than 2,800K people from all around the world currently make money through cryptocurrency. HappyMiner brings high counterpower cloud mining services. Like any certified hash provider, HappyMiner owns industrial facilities with a big tech park of professional Bitcoin mining rigs.

HappyMiner offers users a chance to acquire cryptocurrency. The platform is designed with a simple and intuitive interface that makes it easy for beginners to get started with cloud mining. Additionally, the mining process is fully automated, meaning users can start mining with just a few clicks. HappyMiner provides exceptional services around-the-clock. Additionally, users are allowed to register with valid email addresses in order to protect the security of the cloud mining operation. The funds of HappyMiner users are always secure. HappyMiner teams provide several cloud mining pricing packages, such as $10, $100, $1200, and $9600 packages, among others. Each has a specific contract length and offers a unique return on investment.

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