Stablecoin usage lost steam amid the recent crypto market downturn. From peaking at nearly $2 billion on May 19, the daily transaction volume has fallen off its 2021 average by about 60%. The significant drop begs the question about stablecoin activity in the current market environment. Unsurprisingly, the two cryptocurrencies that remain in a tight
While Islamic scholars have long wrestled with the question of whether cryptocurrency is halal, what if it’s really fiat that isn’t permissible? Islam has strict rules around finance, and it historically defines currency as commodities with intrinsic value — gold, silver, or salt, among others. Waseem Mamlouk, from the DeFi platform Nimbus, argues that government-issued
A major cryptocurrency and blockchain association in Russia is launching a project to bring global crypto mining operations to the country amid a Chinese crypto mining crackdown. The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain, or RACIB, announced an initiative aimed at transferring global computing resources for crypto mining to the Russian Federation. More
Bitcoin (BTC) continued to bounce off $31,000 support during July 16 as fresh data reinforced the importance of current price levels. No trip to $42,000? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD repeatedly testing but so far not breaking through $31,000 on Friday. A late surge to near $32,000 then entered as unconfirmed reports
A non-governmental organization (NGO), Save Tigray, has announced it will be using the proceeds from the sale of non-fungible tokens (NFTs) to support its goal of averting famine in Ethiopia’s war-torn Tigray region. According to Save Tigray, the NFTs, which are “based on interpreted photos of the tragedy,” will be sold on the charity organization’s
The Crazy Horse 3 gentlemen’s club has announced it has become the first major entertainment venue in Las Vegas to accept Bitcoin using the Lightning Network. The nightspot will implement the layer two Bitcoin scaling solution enabling punters to make payments in a flash. It has integrated BTC payment processor OpenNode which will initially allow
Trading in the direction of the trend is one of the best ways to be profitable. If traders learn to spot a new trend early, it provides an opportunity to buy with a good risk to reward ratio. In addition to identifying a trend, traders should also be able to recognize when it has reversed
United States’ city of Jackson, Tennessee, continues exploring a potential dive into cryptocurrencies, now looking to accept Bitcoin (BTC) for property tax payments. Jackson Mayor Scott Conger announced late Thursday that the city’s blockchain task force had launched a study on potential methods to accept property tax payments in Bitcoin in the city. The blockchain
Popular cross-chain decentralized exchange, ThorChain, has suffered a multimillion-dollar breach. Estimates as to the scale of the damage vary, with ThorChain revising the initial estimate that 13,000 ETH (worth $25.1 million) had been stolen down to 4,000 ETH (roughly $7.6 million) as a ballpark for damages. At this stage the estimate is around ~4000 ETH
Bitcoin (BTC) may be a “scam” for former U.S. president Donald Trump, but his treasury secretary appears to have made a U-turn on the world’s first and best-known cryptocurrency. Speaking to CNBC on July 14, Steven Mnuchin confirmed that his perspective on Bitcoin had “evolved.” Mnuchin: Bitcoin stance has “evolved a little” The Trump administration
Former U.S. Treasury Secretary Steven Mnuchin says his viewpoint on bitcoin “has evolved a little bit.” While he personally does not want to have bitcoin in his portfolio, he says if people want to buy the cryptocurrency, “that’s perfectly fine.” Mnuchin Says It’s ‘Perfectly Fine’ if People Want To Buy Bitcoin Former Treasury Secretary Steven
The United Kingdom’s Financial Conduct Authority (FCA) has created an 11 million pounds sterling ($15.2 million) digital marketing campaign to warn citizens about the risks associated with crypto investments. Nikhil Rathi, chief executive of the FCA, made this known in a draft speech for the agency’s webinar titled “Our Role and Business Plan” delivered on
Crypto markets faced another day of struggle on July 15 as the price of Bitcoin (BTC) dropped to its “final support zone” near $31,000, which prompted traders to issue dire predictions about the future should bulls fail to hold this level. Despite the struggles facing the crypto market at large, relatively obscure altcoins like Aavegotchi
Decentralized finance (DeFi) has been one of the hardest-hit sectors since Bitcoin (BTC) price corrected from its all-time high in early May and this can be seen by the decline in the total value locked (TVL) on all protocols. According to data from DeFi Llama, the total value locked in decentralized finance platforms dropped from
U.S. congressional representatives introduced a bipartisan bill on July 15 with the goal of providing a clear definition of assets, such as digital tokens and other emerging technologies, under current securities law. Known as the Security Clarity Act, the bill was introduced by Rep Tom Emmer (R-MN), Rep Darren Soto (D-FL), and Rep Ro Khanna
Ethereum netflows seem to be negative across all exchanges right now, as exchange reserves continue their downward trend. Ethereum Reserves On A Downtrend As pointed out by a CryptoQuant post, ETH reserves continue with a downward trajectory. The all exchange netflows are also very red. The Ethereum all exchanges reserve is an indicator that shows