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2022-06-02 11:17:02 Over 1.2 Million Ethereum Transactions Failed in May

Transactions on Ethereum are consistently failing at rates of over 1 million per month – despite being paid for. Ethereum’s failed transaction count soared by another 1.2 million in May alone. That’s up 200,000 from last month’s figure and over 2% of all failed transactions in its history.

According to the blockchain data explorer Blockchair, exactly 1,228,131 Ethereum transactions failed between May 1st and May 31st, at the time of writing.Transaction failures may occur due to a number of different errors, including if transactions are signed by the wrong sender, or if someone attempts to send negative funds.They may also be due to insufficient funds being provided by the sender to pay for transaction fees. High fees have become a long-standing issue for Ethereum, with the cost of gas soaring as high as 474.57 gwei at the start of the month.

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2022-06-01 19:04:02 Turkey Drafting Crypto Bill to Submit to Parliament in Coming Weeks

Turkey is reportedly drafting crypto legislation to be submitted to parliament in the coming weeks. The bill may also impose taxes on some crypto transactions.Turkey is drafting a bill to establish new rules for the crypto industry, Bloomberg reported last week, citing two unnamed Turkish officials familiar with the matter.

According to the officials, the governing AK Party of President Recep Tayyip Erdoğan plans to submit the cryptocurrency bill to parliament in the coming weeks.Under the new regulatory framework, companies would be required to have a minimum of 100 million liras ($6 million) in capital. In addition, global cryptocurrency exchanges would be mandated to open branch offices that can be taxed in Turkey. The authorities are also exploring ways to safely store cryptocurrencies.

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2022-06-01 18:53:32 Binance  Labs closes $500M investment fund to boost blockchain, web3, and value-building technologies!

The company's venture arm, Binance Labs, said Wednesday it has raised $500 million for its debut start-up fund, securing backing from venture capital firms DST Global and Breyer Capital as well as unnamed family offices and corporations. It comes after Andreessen Horowitz last week announced a mammoth $4.5 billion fund to invest in crypto start-ups.

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2022-05-31 11:45:02 New Terra (LUNA) Loses Nearly 80% of Its Value Hours After Founder Do Kwon Announces Airdrop

The new Terra 2.0 (LUNA) crypto asset dropped by nearly 80% immediately after founder Do Kwon announced its launch over the weekend. The new altcoin was airdropped to holders of the old LUNA following its collapse in early May, after the Terra community voted for the genesis of a new blockchain.

Launching near the $18 mark, LUNA went as low as $4.39, and has traded more or less sideways since then. At time of writing, the new LUNA coin is trading at $5.59. Binance, the largest crypto exchange in the world by trading volume, announced it would be listing LUNA in its Innovation Zone, which it designates for tokens with increased volatility that pose a higher risk than other coins.

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2022-05-30 10:23:02 Ark 21Shares Backers Take Another Shot at Spot Bitcoin ETF Approval

Cathie Wood’s ARK Investment Management and Switzerland-based investment-products issuer 21Shares are having another try at getting their spot bitcoin (BTC) exchange-traded fund (ETF) approved by the U.S. Securities and Exchange Commission.

The SEC rejected an application for the ARK 21Shares Bitcoin ETF in April, citing a lack of investor protections.The SEC has yet to approve any spot bitcoin ETFs. It has either rejected or delayed those requests, while allowing funds that trade bitcoin futures.The SEC said in a filing that it is soliciting comments with respect to the new application.

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2022-05-29 11:55:02 Number of Bitcoin-made millionaires drop 20% in 2022

As a direct result of the downward pressure that has been witnessed in the cryptocurrency market, which has resulted in a loss of almost one trillion dollars in market cap since the beginning of the year, the number of Bitcoin (BTC) addresses that hold one million dollars or more in value has also decreased.

Data acquired by Finbold indicates that as of May 28, 202, the number of addresses with a BTC balance of more than $1 million was 77,936, according to BitInfoCharts.com statistics.Approximately 5,856 of the addresses had a combined balance of approximately $10 million. The remaining 72,080 addresses have a balance of $1 million apiece or more.Indeed, on October 28, 2021, when 116,139 addresses were declared Bitcoin millionaires it would indicate a 32.89% fall in seven months.

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2022-05-28 19:37:02 Top securities regulator warns inflation may push investors into risky assets like Bitcoin

The chair of the European Securities and Markets Authority, Verana Ross, has stated that the current economic condition characterised by high inflation might act as a catalyst for increased investments in Bitcoin.

Speaking during an interview on May 25, the official warned that with the possibility of increased uptake of Bitcoin, the EU needs to be ready from a regulatory perspective, Bloomberg reports.Ross noted that the high returns promised by cryptocurrencies make assets like Bitcoin more attractive. The regulator’s warning comes even as the European Central Bank (ECB) prepares to raise interest rates to tackle rising inflation.

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2022-05-27 15:40:03 F1 driver Ricciardo is OKX's new crypto ambassador

Crypto trading platform OKX has made McLaren Formula One driver Daniel Ricciardo its new brand ambassador in a “major multi-year partnership”.It cements OKX’s relationship with McLaren, having been named official primary partner of the McLaren F1 team and McLaren Shadow e-sports team earlier this month.

The partnership will include a global campaign, supported by Ricciardo educating fans on cryptocurrency trading, as well as collaborating with designers from underrepresented communities to create a special-edition racing helmet to be worn during a race.OKX promises they will give Ricciardo fans “an intimate insight into his crypto trading journey, with the chance to get to know him away from the racetrack”.The sponsorship will be seen for the first time at this weekend’s Monaco Grand Prix, where OKX branding will be visible on Ricciardo’s racing cap.

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2022-05-26 21:44:35 Moonbirds "grew" the NFT market

Over the past year, the NFT market has increased by more than 10 times. Now its capitalization exceeds $10 billion.

The demand for NFT tokens strongly correlates with the overall capitalization of the cryptocurrency market. As a result, trading volumes in 2022 have dropped significantly

However, since mid-April the situation has changed dramatically. Weekly turnover reached $1 billion.

The driver was the Moonbirds collection, ranking number one with $165 million in sales in the last week

During that time, 1,309 members made 1,821 transactions. The most expensive image went for 350 ETH, the equivalent of $1 million. There are a total of 10,000 birds in the collection

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2022-05-26 15:46:02 TRON records double-digit gains as number of accounts approaches 100 million

As the cryptocurrency market continues to alternate between the bearish and bullish patterns, some of its assets are recording remarkable results – including the decentralized, open-source blockchain-based operating system Tron (TRX).

Indeed, TRON has been doing exceptionally well in terms of both weekly and daily gains, leading the top 100 cryptocurrencies by market capitalization in terms of gains, with a 5.08% advance over 24 hours and 16.22% compared to the week before, according to CoinMarketCap data from May 24.As things stand, the price of TRON stands at $0.08146.

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