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2022-10-27 22:30:53 Ethereum becomes 50th largest asset by market cap after recent price action

Ethereum has become the 50th most valuable asset in the world, surpassing Cisco, Alibaba, AstraZeneca, and T-Mobile. After almost a month of flatlining, ETH experienced a notable spike and saw its price increase to $1,560 from $1,300 in less than two days. The positive price action rose its market cap to $190 billion and entered ETH into the top 50 assets by market cap. Ethereum currently stands head-to-head with giants such as Toyota and Walt Disney, whose market caps hover around $195 billion. Ethereum has become the second cryptocurrency ever to enter the top 50 assets by market cap. With a value of over $395 billion, Bitcoin takes up 14th place among the most valuable assets in the world, squeezed between Visa and Walmart. At its current price of around $20,700, Bitcoin has surpassed palladium in terms of value.

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2022-10-26 22:30:01 FTX records largest short liquidation event in its history

Cryptocurrency exchange FTX hit a new record of over $936.24 million in short liquidations. This development, as reported, is the single largest liquidation event ever recorded by the exchange since its emergence in 2019. Notably, FTX edged past its contemporaries by a very wide margin. It is being trailed by Binance, which recorded $57.58 million, and OKX, with $46.72 million. According to figures from the last 24 hours, the general crypto market recorded liquidations of about $1.1 billion on short trades, or stakes against price rises, reaching its highest since July 2021. Just on BTC, short liquidations were $280 million on Oct. 25 and a further $300 million of BTC shorts were liquidated on Oct. 26. Notably, these liquidations reportedly contributed to a short squeeze, as numerous tokens saw a rise in prices within the last 24 hours.

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2022-10-25 22:30:00 Bitcoin Skyrockets Toward $20K Leaving $100M in Daily Liquidations

Following days of inactivity, Bitcoin was struck by another wave of upward volatility on Tuesday. After nearly reaching $20,000, the asset left $100 million in liquidations in its wake. The coin touched $19,500 about an hour later, experiencing another hour of flat trading before climbing again to $19,834 by 16:00 UTC. The price is now $19,792, at writing time. Data from Coinglass shows that $50 million in crypto trades have been liquidated over the past hour alone, with $112 million being squeezed over the past day. The largest single liquidation took place on Binance for a BTC/USDT trade, with a value of $1.01 million.

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2022-10-24 23:10:01 Fireblocks expands digital asset payments engine product after settling $1 billion with Checkout.com

Fireblocks acquired crypto payments processor First Digital Assets Group earlier this year. Now it has set out to give PSPs operating on old rails — using traditional payment systems and 9-to-5 banking systems — the tools to enable merchants, entrepreneurs and creators to accept, manage and settle digital payments across borders. The payments engine is essentially the company's first take on that long-term vision. It includes merchant settlement and soon the addition of cross-border transfers, creator payouts and crypto pay-ins (allowing merchants to accept crypto). Fireblocks has partnered with FIS's Worldpay, which earlier this year started offering merchants the option of USDC settlements. Additionally, it has an onboarding queue of about 50 companies for the payments engine.

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2022-10-23 21:29:59 Spain overtakes El Salvador to become third largest crypto ATM hub

The European country of Spain is officially home to the third-largest network of Bitcoin and cryptocurrency ATMs after the United States and Canada. Spain currently hosts 215 crypto ATMs, pushing El Salvador — wi 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs. Moreover, the revelation places Spain as the highest contributor to crypto ATMs in Europe, which represents 14.65% of total installations in the continent, followed by Switzerland (144 ATMs), Poland (142 ATMs) and Romania (135 ATMs). In 2022 alone, Spain installed 43 crypto ATMs and has previously shared its intent to install a total of over 100 ATMs by the end of the year — taking up the total to nearly 300 crypto ATMs once completed.

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2022-10-22 23:02:02 Ethereum supply on trend to drop below pre-Merge levels

The supply of Ethereum's native asset ether (ETH) appears on trend to deflate to pre-Merge levels as a result of more coins being burned than created for the last few weeks, on-chain data shows. Ethereum's upgrade from proof-of-work to proof-of-stake consensus, the ETH supply was 120,520,000 coins. After The Merge, the supply rose to 120,534,000 on Oct. 8, but has since fallen back to 120,522,000, now sitting just a couple of thousand coins more than the supply recorded at The Merge. This deflationary trend has occurred as more coins have been burned for transaction fees than were created as rewards for validators in recent weeks."Post-merge total supply change is about to turn negative in the next 5-7 days," Honkasalo tweeted.

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2022-10-21 22:30:00 Hong Kong government considers permitting retail investments in crypto

According to the report, the possible shift in attitude is taking place amid an exodus of financial technology talent from Hong Kong that is eroding the territory’s status as a crypto industry hub, much to the advantage of Singapore as its main competitor. Hong Kong’s regulators are mulling permitting retail investors to directly participate in investing in digital assets. Previously, the government of Hong Kong announced it would be revealing its new policy statement on cryptocurrencies during this year’s FinTech Week, in line with a “vision of developing Hong Kong into an international virtual assets center,” as the officials said.

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2022-10-20 21:50:06 Kanye West Adorns Bitcoin’s Satoshi Hat after JP Morgan Fallout

Hip-hop icon and businessman Kanye West was seen sporting the Bitcoin founder Satoshi Nakamoto Hat after his corporate bank account was shut down by JP Morgan Chase. In a tweet, political commentator Candace Owens shared a letter Ye allegedly received from financial behemoth JP Morgan. JP Morgan gave Yeezy LLC and Ye until November 21st, 2022 to transfer the account’s funds of about $140 million elsewhere after the rapper’s formal split with the financial institution. Many have concluded that the bank’s choice was motivated by West’s most recent anti-Semitic remarks alongside other problematic comments he made on social media amid the Paris fashion week havoc. Kanye West asserted that he did not violate any laws and called JPMorgan’s choice shocking.

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2022-10-19 23:30:17 Israel moves to avail government bonds via blockchain

As per a report from Oct. 19, the Israel Ministry of Finance has partnered with VMware and Fireblocks to perform a proof of concept for issuing government bonds through blockchain to reduce costs and shorten the duration of issuance and clearing of government bonds. The new project is named “Eden” by the government. As revealed, the account general established the project through the Debt Unit in the financing division and the Tel Aviv Stock Exchange. Worth noting, the Proof of Concept project will incorporate the digitization of a new series of bonds and its disbursement to the system participants. Before the bonds can be issued, leading international and local banks must participate in a “live test.”

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2022-10-18 21:55:09 Polkadot Development Activity Peaks in Q3: Report

Latest data also suggest that nearly 14,930 developer contributions were recorded on Polkadot’s GitHub for August, establishing a new monthly ATH by a wide margin. Polkadot surpassed the margin yet again but for the first time in September, concluding the month with 15,433 contributions, the highest recorded on any network, including Ethereum. The launch of new parachains continued on a regular basis taking the number of active ones to 40 on the experimental “canary” network, Kusama, and 26 on the main network itself. Many of these leverage Polkadot’s cross-consensus interoperability standard XCM. Data from Polkadot Subscan revealed that September broke previous records to fetch an ATH number of 26,258 messages sent between its parachains. Overall, more than 140,000 messages have been exchanged between chains with the help of 135 channels.

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