Crypto | Bitcoin | Blockchain

2022-10-22 06:39:02 Chainlink Sharks and Whales Add $313M Worth of LINK in Six Months

Chainlink has been witnessing strong whale accumulation and address activity this year. Sharks and whale addresses, holding 10,000-1 million LINK, have continued to pile up tokens as the bear market set in. According to the latest data from the crypto-analytic platform, Santiment, this cohort of investors has collectively added over $312 million worth of LINK tokens to their wallets since March 3rd.

The whales and sharks are currently holding 17.61% of the total circulating supply of LINK, increasing their holdings by a decent 4.73% during the period of six months. The most recent sell pressure can be attributed to offloading of tokens by another category of LINK addresses holding more than 10 million LINK, which controls around 54% of the total circulating supply. LINK is yet to see a breakthrough after erasing much of the gains.

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2022-10-21 07:34:02 Kraken becomes the latest crypto exchange to restrict Russia-linked accounts

Kraken is now restricting Russia-linked accounts, according to Russian-language emails sent to customers and obtained by The Block. The developer of the decentralized finance platform Yearn, Banteg, tweeted that withdrawals were the only feature available.

The extent of the restrictions currently in effect is unclear at this time, based on the email's contents. One source told The Block that on Oct. 19, some users were yet to experience any restrictions on their account, though The Block has not been able to independently verify this claim. Another user said their account was closed but that they could withdraw funds.

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2022-10-20 05:34:02 Decentralized music startup Audius aims to provide virtual concerts via SoundStage acquisition

Audius, a decentralized music firm with Katy Perry, The Chainsmokers and other music giants as investors, has acquired the virtual music experience platform SoundStage. Audius intends to bolster its presence in the metaverse by providing virtual concerts through this acquisition.

For the first time, Audius artists will be able to offer an interactive live music experience to their fans, further cementing Audius as the best place for creators to aggregate and serve their fanbases,” Audius CEO and co-founder Roneil Rumburg told The Block. “Soundstage.fm is an exciting addition to the suite of tools Audius offers for artists to create new and different experiences for their fans. The Chainsmokers, Nas, Jason Derulo and Sony Music’s former CEO Martin Mandier in September of 2021.

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2022-10-19 05:32:02 WazirX founder’s blockchain project Shardeum raises $18 million

The startup is co-founded by Nischal Shetty, who founded Indian exchange WazirX, and blockchain architect Omar Syed. Layer 1 blockchain Shardeum closed its $18.2 million seed funding round at a $199 million valuation. The Block first reported that the startup was seeking to raise $18 million at a $200 million valuation in August.

Over 50 investors participated in the seed round, including Spartan Group, Big Brain Holdings, Jane Street and Foresight Ventures, according to a company announcement. Co-founded by Indian exchange WazirX’s founder Nischal Shetty and blockchain architect Omar Syed, Shardeum is a proof-of-stake blockchain platform that uses dynamic state sharding technology in pursuit of efficiency gains. It helps increase block space for more transactions and reduces gas fees.

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2022-10-18 07:25:02 Coinbase's new regional managing director to lead European expansion: Bloomberg

Coinbase is hiring the chief operating officer from the fintech platform Solarisbank. Daniel Seifert, Coinbase’s new addition, will serve as the Europe regional managing director, Bloomberg reports. Crypto exchange Coinbase is hiring an executive from German fintech firm Solarisbank to lead its European expansion, Bloomberg reports.

The role is geared towards achieving international expansion, Nana Murugesan, vice president of international and business development, told Bloomberg. Coinbase successfully registered in the Netherlands in September, and in Italy in July. Murugesan further shared with Bloomberg that the crypto exchange has eyes on France and Spain for regulatory approval next year.

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2022-10-17 07:10:01 FTX CEO backs knowledge test for trading wide range of derivatives

FTX’s Sam Bankman-Fried agrees with CFTC Commissioner Christy Goldsmith Romero over the benefits of disclosures and knowledge tests for trading, but took to Twitter to add they need not be crypto-specific. Bankman-Fried’s comments came in response to those of the Commodity Futures Trading Commission official.

Establishing a household retail investor category could give them more consumer protections. For example, disclosures written in a way that regular people understand or could be used when weighing rules on the use of leverage," Romero tweeted. Disclosure mandates and knowledge-based tests for a wide-range of intermediaries like futures commissions merchants and could make sense, according to the billionaire.

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2022-10-12 07:21:02 HUSD Stablecoin Depegs Again Following Huobi Delisting HUSD Trading Pairs

The HUSD stablecoin has depegged to $0.96 and is yet to recover its dollar parity after the Huobi exchange recently announced that it would delist HUSD trading pairs. While not as severe as the depeg that occurred in August 2022 when it hit $0.85, it’s still yet another negative incident for the stablecoin.

Huobi’s dollar-pegged stablecoin HUSD has broken away from its $1 peg again following the delisting of a number of trading pairs of the token on the Huobi exchange. The stablecoin is currently standing at $0.97 and has fallen from its $1 peg for the last 12 hours. Huobi has not commented on the incident yet. In August, when the last depegging happened, Huobi confirmed the price fluctuations and worked with the issuer of HUSD to resolve the issue.

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2022-10-11 08:25:04 Ethereum adds 135,000 new addresses marking the highest daily network growth in 2022

The Ethereum (ETH) network, which officially marked its transition from the Proof-of-Work (PoW) to the Proof-of-Stake (PoS) algorithm after the Merge upgrade, is currently showing some encouraging signs after increasing the number of addresses added on the network, thus ‘hinting at a breakout.’ Ethereum experienced a rise in new addresses established on October 8.

The platform notes 11.1% more network growth than the next highest of 2022 on January 3 and the highest since December 7, 2021. Santiment noted, ‘utility rises commonly foreshadow potential asset breakouts.’. The number of new addresses being added to the Ethereum network recently hit an all-time high, according to a cryptocurrency analytics platform, Glassnode, on October 10.

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2022-10-10 07:58:02 ‘Bitcoin Rainbow’ chart hints BTC could reach 6-figure price within 2 years

Bitcoin (BTC) consolidation around the $20,000 level continues to play out, with the flagship cryptocurrency appearing to stabilize around the region amid the sustained crypto winter. However, investors are monitoring the asset’s price trends for signals on the next action. One of the tools leveraged in determining possible Bitcoin price action is the Bitcoincenter’s rainbow price chart.

The chart highlights how past Bitcoin prices can offer a glimpse of how the asset could potentially perform in future. In the long term, if the historical pattern is sustained, the chart suggests that Bitcoin could reach a six-figure value of $626,383 by October 9, 2024, when the flagship cryptocurrency will hit the ‘Maximum Bubble Territory’ represented by the dark red color. At the same time, the chart indicates that the current crypto winter might have bottomed.

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2022-10-09 08:54:03 Decentraland dispute claims its virtual world platform is a ghost town

The claims were made based on data from DappRadar, and tweeted by Cyber Samurai CEO 0x_shake, who posted that Decentraland “has 30 Daily Active Users (DAUs).” He further commented that the low number of DAUs is inconsistent with a project with a $1.2 billion market cap. Since the original article’s publication, DappRadar has suspended its Decentraland data page.

CryptoSlate reached out to DappRadar for commentary on its data-gathering process. But a reply was not received before the time of publication. The figures were cross-referenced with a secondary source which showed, since July 8, an approximate daily median of 600 users were interacting with Decentraland smart contracts – significantly higher than data per DappRadar, yet still relatively low. The chart below shows unique visitors exceeded 10,000 on five occasions over the past three months.

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