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2022-10-07 08:53:02 Number of active Ethereum users increased 36% in Q3 despite bear market

Data from Dune Analytics showed that Ethereum gained over 4.5 million new active users in the third quarter. The growth breaks the trend of steady decline in users the network has been facing since the fourth quarter of 2021 when ETH’s price rose to its all-time high of $4,890.

At the end of the second quarter, Ethereum’s price dropped below the $900 mark — causing a market frenzy. However, Goldberg believes that the low price must have looked like a bargain discount to many optimistic investors who jumped at the opportunity to enter the market. A cheap ETH could have also opened the door for retail investors priced out of the network due to high gas fees. ETH’s price rebounded after breaking the $1,000 resistance and saw an increase of over 100%.

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2022-10-06 07:17:02 Nexo co-founders address recent cease and desist orders from US state regulators

Nexo co-founders Antoni Trenchev and Kalin Metodiev hosted an AMA on Oct. 4 in which they addressed recent cease and desist orders issued by several U.S state regulators. Given the turmoil of the last few months, the pair also tabled questions about the platform’s robustness.

At the end of September, several U.S. state regulators launched legal action against Nexo over its Earn Interest Products. California’s Department of Financial Protection and Innovation (DFPI) said its investigations follow similar actions against BlockFi, Voyager Digital, and Celsius. The latter two have filed for bankruptcy. DFPI Commissioner Clothilde Hewlett commented that Nexo’s earn products are unregistered securities, and she seeks to protect Californians from the risks involved with such offerings.

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2022-10-05 08:55:02 Binance burns $1.9M LUNC tokens

Binance announced that it has burned 5.5 billion Luna Classic tokens following its implementation of the burn mechanism. According to the announcement by the firm, it burned all the trading fees for LUNC spot and margin trading pairs. The burn program began on Sept. 21.

The burnt 5.5 billion LUNC tokens represent the fees the exchange got between Sept. 21 to Oct. 1. Binance was previously reluctant about the implementation of the 1.2% burn tax mechanism, saying it was going to add an opt-in button for users. However, the community’s negative reaction to the idea forced the exchange to cancel the plan. A Twitter account tracking Luna Burn confirmed that Binance has sent the tokens to the LUNC burn address. At the current price, it means that almost $1.9 million worth of LUNC was burned.

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2022-10-04 08:58:02 Tornado Cash Monthly Users Fall by Over 50% Post-US Sanctions

Tornado Cash is experiencing a significant drop in activity following the sanctions by the U.S. Treasury. The number of unique users and weekly deposits and withdrawals have both fallen. Tornado Cash is taking a tumble in terms of activity as a result of the sanctions imposed by the United States Treasury.

The sanctions have effectively taken Tornado Cash from all-time highs in terms of unique users to what could be lows that could be permanent. Monthly users have also fallen by over 50%, from over 2,600 in July to under 1,300 the month after. That represents a 52% drop in users. The weekly deposits and withdrawals have also taken a significant hit, to the point where they are less than a tenth of what they were in the early parts of the year. In the last week of September, weekly deposits and withdrawals amounted to $3.6 million and $5 million, respectively.

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2022-10-03 08:03:02 Argentinian UFC Fighter Cannetti to Receive Salary in USDC

‘El Ninja’ will get all his earnings in USDC, arguing this is much safer than receiving a salary in Argentinian pesos. Guido Cannetti – an Argentinian mixed martial artist who competes in the UFC – partnered with the crypto-focused payment company Bitwage to become its ambassador.

In addition, he will start receiving all his earnings in the stablecoin USDC instead of fiat currency. It is worth noting that the inflation and the political turmoil in Argentina have pushed a chunk of the locals toward the cryptocurrency sector. Instead of keeping their savings in peso (which has been rapidly depreciating recently), some Argentinians converted them into stablecoins pegged to the American dollar, such as Tether (USDT) and the one issued by Circle – USDC. The interest in such assets rose significantly after Argentina’s Minister of Economy.

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2022-10-02 06:47:02 Block’s TBD Partners With Circle to Create Global Fiat-Crypto Bridges

TBD – a Bitcoin-focused wing of Jack Dorsey’s payments company Block – has partnered with Circle to help expand on and off ramps between the worlds of crypto and fiat. The teams intend to bolster some of crypto’s premiere real-world use cases, from cross-border remittances to stablecoin self-custody.

According to TBD’s announcement, the team will begin supporting Circle’s stablecoin, USDC, on a number of applications to make it easier to build on the tbDEX protocol Web 5 platform. The tbDEX protocol is an attempt to create a decentralized Bitcoin exchange, making it easier to bridge value between the fiat and crypto worlds. At present, moving between each requires the use of centralized exchanges, which collect identifying information from their users due to KYC requirements.

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2022-10-01 09:49:02 Revolut’s crypto chief says ‘Christmas lights use more energy than Bitcoin’

Ed Cooper, who is the crypto product owner for challenger bank Revolut, believes that concerns about Bitcoin’s impact on the environment are unwarranted. Despite the fact that the Proof-of-Work (PoW) consensus method that Bitcoin (BTC) uses has been the subject of scrutiny for being a mechanism that requires a significant amount of energy.

According to the European Central Bank, the amount of energy that is used in cryptocurrency mining is equivalent to more than an entire year’s worth of energy consumption in countries such as Austria, France, Spain, and the Netherlands. As per the analysis, PoW is the primary source of the problem with energy use. Although PoW is the standard procedure for Bitcoin, the Ethereum Foundation claims that switching to a Proof-of-Stake mechanism.

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2022-09-30 09:46:02 Terraform Labs Accuses South Korean Officials of Prosecutorial Overreach: WSJ

While local authorities are searching for Do Kown, Terraform Labs believes the Luna/UST crash case has become increasingly politicized. Singapore-based company Terraform Labs has stated that South Korean prosecutors exceeded the limits of their authority regarding the arrest warrant against the firm’s co-founder, Do Kwon.

A spokesperson for Terraform Labs told the Wall Street Journal in a statement saying that South Korean prosecutors were “overreaching their authority.”. The Terraform Labs spokesperson in the latest report also refused to divulge Kwon’s location, stating “ongoing physical security risks to him and his family” and attempts to break into the co-founder’s South Korea and Singapore residences as reasons for concealing his whereabouts.

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2022-09-29 16:28:44 1 MORE DAY TO @AffynOfficial BIG UNVEILS!!! This is one of the most severely undervalued projects that I believe will become the Number 1 blockchain Metaverse in the entire industry.

Register for the ALPHA event!:
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2022-09-29 08:38:02 Ethereum Tanks 7% on Vitalik Buterin PoS Book Launch Day

Ethereum co-founder Vitalik Buterin has just launched his book but that hasn’t prevented ETH prices from tanking even further. On Sept. 28, Vitalik Buterin tweeted that his book titled ‘Proof of Stake (The Making of Ethereum and the Philosophy of Blockchains).’ was available in physical and digital editions.

The book is listed on Gitcoin and can be found on retailers such as Amazon for $16.99 for the paperback and $12.99 for the digital edition. There are also signed digital copies in nonfungible token (NFT) format available for Ethereum aficionados. The story starts in 2013 when Ethereum was conceived of the need for a Bitcoin scripting language for application development. It then goes on to discuss proof-of-work concepts and Ethereum’s evolution to proof-of-stake.

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