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2024-04-07 20:55:01 Ethereum and Polygon Attract Majority of New Users: Flipside Report

Ethereum and its Layer 2 scaling solution, Polygon, attracted the most new users by far in the first quarter of 2024. The latest report by Flipside revealed that these two blockchain platforms have garnered the most cumulative new users among observed EVM chains since the beginning of the year. Polygon boasted 12.3 million new users, and Ethereum had 13.4 million – roughly 70% of new users this year across all observed chains as of March 27. Next up was Arbitrum, recording the most new users (4.7 million) during the same period.

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2024-04-07 10:04:54 Coinbase cleared in lawsuit over crypto transactions

Coinbase, one of the leading cryptocurrency exchanges, has achieved a significant victory in an ongoing lawsuit. The U.S. Court of Appeals for the Second Circuit has ruled in favor of Coinbase, confirming that the secondary sales of cryptocurrencies on its platform do not violate the Securities Exchange Act. The court’s decision affects a nationwide group of people who traded tokens on Coinbase from Oct. 8, 2019, to March 11, 2022. At the heart of the dispute was whether Coinbase’s traded cryptocurrencies met the criteria for securities.

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2024-04-06 20:33:42 Bitcoin's Path to Halving — Anticipated Increase in Difficulty Sets Stage

In April, bitcoin (BTC) miners face two significant events: the upcoming difficulty adjustment and the subsequent halving. During the last adjustment on March 28, at block height 836,640, the difficulty decreased by a modest 0.98%. However, this reduction may be erased in the next adjustment, which is projected to increase by anywhere from 1.2% to 2.16%. The upcoming difficulty adjustment is anticipated to happen at block height 838,656, providing miners with 1,344 blocks to mine until block 840,000.

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2024-04-06 12:33:52 Coinbase stands strong in consumer lawsuit as case is revived post-appeal

An appellate court has revived a civil lawsuit against Coinbase due to a clerical error despite ruling that the initial dismissal was appropriate. The current ruling largely supported a federal court’s dismissal of the case, noting that the district court “properly dismissed” the plaintiffs’ Section 29(b) complaints. Coinbase chief legal officer Paul Grewal responded to the legal development on April 5, saying that crypto exchanges have no private liability for secondary trading of crypto tokens because “contracts matter.”

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2024-04-05 20:37:22 Crypto VC investments increased 38% in first quarter breaking 2 year trend

Crypto venture capital (VC) investments increased in the first quarter of 2024, according to a survey published by Crypto Koryo on April 4. The analyst measured growth across two distinct metrics. VCs invested nearly $2 billion in crypto projects, marking an increase of 38% from Q4 2023. VCs also invested in 250 crypto projects, representing an increase of 49% from the previous quarter. The results are some of the best since investments peaked sevenfold at $14 billion in Q4 2021.

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2024-04-05 08:34:56 Ripple exec slams SEC’s ‘misguided war on crypto,’ demands accountability

Ripple’s Chief Legal Officer Stuart Alderoty has strongly criticized Gurbir Grewal’s, the Director of Enforcement at the Securities and Exchange Commission (SEC), comment about the crypto industry’s compliance efforts. At a recent SEC event, Grewal suggested that the emerging industry was utilizing various methods to evade the financial regulator’s oversight, such as relocating or registering in different jurisdictions.

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2024-04-04 19:33:55 Hedge Funds Hold Record Bearish Bitcoin Bets, Data Show

Leveraged funds, which the Commodities Futures Trading Commission (CFTC) describes as hedge funds and commodity trading advisers, held record bearish wagers on the bitcoin (BTC) price at the end of the first quarter as the cryptocurrency's rally stalled near record highs. That's the most since the futures began trading in late 2017, according to CFTC figures published last week. CME's standard bitcoin futures contracts are sized at 5 BTC.

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2024-04-01 18:46:54 Bitcoin’s bullish swing backed by record high short-term holder realized price

Bitcoin on-chain data by Glassnode portrays a bullish sentiment, underscored by robust support levels influenced by short-term holders‘ behavior. The Short-Term Holder Realized Price (STH RP), reflecting the average on-chain acquisition cost for coins moved within the last 155 days, recently soared to an all-time high of $57,547. Notably, its 7-day percent change stands at 4%, a significantly elevated figure following a remarkable 11% surge – marking the highest level since 2021.

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2024-03-30 18:29:59 Vitalik Buterin emphasizes need for parallelization, internal scaling in Ethereum rollups

Ethereum co-founder Vitalik Buterin has put a spotlight on the need for internal scaling and parallelization within Layer 2 rollups. This call to action from Buterin in his Thursday blog post comes after the Dencun hard fork took place earlier this month, which introduced a crucial improvement known as EIP-4844 aimed at drastically reducing transaction fees for Layer 2s.

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2024-03-29 19:55:00 Bitcoin futures open interest reaches new high at $38 billion

Open interest for bitcoin futures on centralized exchanges has reached a fresh high, indicating increased trading activity around the largest cryptocurrency by market capitalization. Since the start of 2024, daily open interest in bitcoin futures has increased by more than 100% from Jan 1, when it was approximately $17.2 billion. This rise coincides with bitcoin’s price surge to $70,000 — a 66% increase year-to-date.

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