Month: April 2021

Bitcoin caught in the crossfire as Turkish opposition leader voices support

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Shortly after a Friday morning “diktat” from Turkey’s freshly-appointed central bank governor that effectively banned any and all use of cryptocurrency in the country, Bitcoin now appears caught in a partisan dustup as a Turkish opposition party leader has voiced support for the digital currency.  As reported by Cointelegraph, Turkey’s central bank announced this morning that, starting on April 30th, any cryptocurrency payments and fiat-to-crypto onramp transactions will be rendered illegal. Additionally, “any direct or indirect usage of crypto assets in payment services and electronic money issuance” will be prohibited.…

Ethereum bulls hedge their bets ahead of next week’s $250M ETH options expiry

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Ether (ETH) paved the way for lower transaction costs with the Berlin upgrade on April 15. However, traders already know that the Ethereum Improvement Proposal 1559 is the most anticipated and controversial change scheduled for the upcoming London hard fork. The EIP introduces a base fee that will be burned when a transaction occurs, while miners receive a tip for validating transactions. This move would severely pressure miners’ earnings, but the proposal aims to tame the skyrocketing gas fees that have plagued the network for the past two years. The…

Scaramucci surprised at lack of banking response to Coinbase listing

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After much anticipation, Coinbase listed on the Nasdaq on Wednesday via a direct listing. Skybridge founder Anthony Scaramucci thinks the event should have been met with more attention from banks.  “What I’m surprised about frankly is there isn’t a wake-up call at the banks, the commercial banks, like there was for the Netscape IPO in 1995 at microsoft,” Scaramucci told CNBC on Friday after noting Coinbase’s connection with Bitcoin, in line with the asset’s growth and technical framework. He added: “Bill Gates thought the internet was a fad. He then…

Is DeFi yield appetite rising again? Enso raises $5M as YFI hits new highs

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The appetite for DeFi is rising again as blue chips are rallying and yield-earning strategy-sharing platforms, like Enso, are on the rise. Enso, a platform where users can share yield-earning strategies, raised $5 million on April 13 from top U.S. venture capital firms including Polychain Capital and Multicoin Capital. Synthetix (SNX) founder Kain Warwick, Aave founder Stani Kulechov, Dfinity COO Artia Moghbel, and other prominent angels took part in the round. The high-profile fundraising round comes as Yearn.finance (YFI) achieved a new all-time high above $50,000. Why is the demand for…

ECB endangers itself by waiting around on digital euro, says ConsenSys exec

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The European Central Bank will put itself in jeopardy if it waits around a digital euro too long, according to an executive at major cryptocurrency firm ConsenSys. ConsenSys South Africa lead Monica Singer joined in at the European Blockchain Convention to discuss the role of the private sector in shaping global central bank digital currencies, or CBDC. She spoke of CBDC-powered benefits and opportunities in a Monday panel with BNP Paribas CIB digital transformation leader Dean Demellweek and Philipp Sandner, a professor at the Frankfurt School Blockchain Center. Singer — who…

Record $600M BNB burn suggests Binance made $750M in profit in Q1

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Binance Coin (BNB) saw its 15th burn to date on April 16. According to on-chain data, Binance burned nearly $600 million worth of BNB tokens. Historically, Binance has burned around 20% of the exchange’s profits. But in the last burn, Binance burned much more than 20%, and the exact percentage of the burn remains uncertain. Imagine burning half a billion dollars, wait, don’t imagine. It’s real. #BNB https://t.co/rMFbiufFSG — CZ Binance (@cz_binance) April 16, 2021 BNB fundamentals keep improving Sam Bankman-Fried, the CEO of FTX, one of the top cryptocurrency…

Dogecoin Overtakes Tether in Market Cap After Making New All-Time High

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Key Takeaways Dogecoin has posted year-to-date returns of nearly 7,000%. The meme coin continues surging while the rest of the market takes the backseat. If buying pressure continues mounting, DOGE could rise to $0.36 or even $0.52. Share this article Dogecoin continues its staggering advance thanks to a new wave of interest. Even after nearly 200% in gains, DOGE may just be getting started. Dogecoin Leads the Charts Dogecoin has stolen the crypto spotlight after skyrocketing by a more than 180% in the last 24 hours. While the rest of…

Bitcoin hash rate hits record 200 EH/s in fresh BTC price bull flag

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Bitcoin (BTC) has seen a classic indicator of a coming bull run pass a historic milestone as miners commit more and more resources to its future. According to data from on-chain monitoring resource Glassnode on Friday, Bitcoin’s network hash rate has passed total exahashes per second for the first time in its history. Hash rate underscores miner commitment Coming as a spike in a long-term uptrend, crossing the significant boundary means that the hash rate has doubled in under nine months.  Bitcoin average hash rate chart. Source: Glassnode An estimate…

Rothschild Investment Adds Ethereum, Surpassing Bitcoin Holdings

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Share this article According to a recent filing with the SEC, the Chicago-based Rothschild Investment has made a substantial investment in Ethereum. Rothschild Investment Doubles Down on Ethereum The firm purchased 265,302 shares of the Grayscale Ethereum Trust (ETHE), an investment vehicle that offers exposure to Ethereum. In its investment holdings report (Form 13- FHR), the firm revealed its shares in the ETH Trust were valued at $4.75 million on Mar. 31. Interestingly, this investment exceeds Rothschild Investment’s exposure to Bitcoin. The firm also disclosed its holdings of 38,346 shares…

As DeFi tokens surge, CRV indicates a bumper crop for ‘DeFi Summer 2.0’

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Fire up your tractors: The farmer’s almanac of decentralized finance is indicating that DeFi Summer 2.0 could feature some healthy yields across the ecosystem.  Multiple common metrics used to gauge the health of the DeFi space are pointing toward a looming bull market, but perhaps most promising of all might be the surge in Curve’s CRV governance token price. Often referred to as one of the “backbone” protocols of DeFi, Curve is an essential tool for many retail and protocol-level yield farming strategies. Curve allows for low-cost, low-slippage swaps of…