In a Twitter post published Wednesday, blockchain research firm CryptoRank revealed that over 1 million Ether (ETH) worth $4.24 billion had been burned since the introduction of the EIP-1559 protocol in August as part of the London hard fork. The EIP-1559 protocol reformed the Ethereum fee market, modifying the limit for gas fees and introducing
Month: November 2021
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The U.S. Securities and Exchange Commission, or SEC, announced Nov 24 the title of the upcoming crypto panel for its Dec 2 Investor Advisory Meeting will be “Helping to Ensure Investor Protection and Market Integrity in the Face of New Technologies”. Previously on Nov 15, the Commission announced the meeting would be open to the
The Collins Dictionary has officially announced their ten-word annual shortlist for word of 2021, as well as declaring that NFT — though technically understood to be an abbreviation for nonfungible token — has been awarded their word of the year, surpassing the likes of crypto, metaverse and hybrid working, among others. The blog post spoke
Blockchain technology is transformative for both our financial system and commercial enterprises, as well as for improving the human condition. More and more unbanked citizens both abroad and here in the United States now can have the capability to transfer and receive funds from loved ones with speed, economic efficiency and anonymity, where necessary, from
Bitcoin (BTC) and most major altcoins continue to be pinned below their respective overhead resistances, indicating that bears are selling on rallies. According to Ki Young Ju, CEO of on-chain analytics firm CryptoQuant, “whales are depositing Bitcoin to exchanges.” Curiously, the outflows from the exchanges have also continued and due to this, the reserves are
The government of India has listed a cryptocurrency bill to be taken up in the upcoming session of parliament that starts next week. The bill seeks to prohibit cryptocurrencies with some exceptions. It will also create a facilitative framework for a digital rupee to be issued by the Reserve Bank of India (RBI). Indian Government
Shiba Inu (SHIB) edged further down on Nov. 24 as its appeal among the army of retail traders, who helped it rally by more than 535% to a record high of $0.00008854 earlier this year, declined. SHIB’s price dropped by nearly 60% after establishing the said all-time high on Oct. 28, signaling that traders have
The term “digital ownership” has only recently come to mean anything. While nonfungible tokens (NFTs) have been around for some time now, it’s in the last year or two that they’ve caught the attention of mainstream media. The third quarter of 2021 alone saw over $10 billion in NFT trade volume across blockchains, a substantial
Bitcoin (BTC) showed no sign of tackling $60,000 resistance on Nov. 23 as the specter of defunct exchange Mt. Gox returned to haunt price action. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Mt. Gox makes waves with payouts yet to come Data from Cointelegraph Markets Pro and TradingView showed BTC/USD again reversing progress which had produced a
Bitcoin (BTC) continued its pattern of sudden price spikes on Nov. 24 as sudden momentum produced a brief trip above $57,400. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: 2021 still conforms to bullish pattern Data from Cointelegraph Markets Pro and TradingView showed BTC/USD making skittish moves within a familiar range during Wednesday. The pair reached
Regulatory discussions in India around a crypto ban caused panic selling on major crypto exchange WazirX, resulting in massive price drop on leading cryptocurrencies including Bitcoin (BTC) and Ether (ETH). Crypto prices in India crashed soon after the parliament announced to introduce and list 26 new bills in the Winter Session, which included the Cryptocurrency
press release PRESS RELEASE. The gaming business is undergoing a revolution thanks to the advent of blockchain technology. Because of this, it’s giving developers a new way to engage the audience with capabilities that were previously unavailable. The Play-To-Earn (P2E) concept, in which gamers’ are rewarded for their time with tokens that can be exchanged
In a statement released to customers on Tuesday, Israeli cryptocurrency exchange eToro announced it would delist Cardano (ADA) and Tro (TRX) for United Stat customers by the end of the year. After Dec. 31, U.S. users will no longer be able to open new positions in the tokens nor stake ADA and TRX. In addition, wallets
SAND, the native token of the Sandbox — a blockchain-based gaming platform owned by Animoca Brands, inched higher on Tuesday, building on its gains made all across November, to reach another record high. SAND token price rose to $5.64 after swelling 16.25% intraday but retraced some of those gains to trade at $5.54 at the press time.
Bitcoin (BTC) whales are moving large amounts of coins to exchanges in tandem with large outflows, curious new data shows. According to the exchange whale ratio indicator from on-chain analytics firm CryptoQuant, large transactions have accounted for over 90% of recent exchange deposits. Top 10 deposits make up 90% of exchange inflows In a marked
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South Korea’s Financial Services Commission, or FSC, announced Tuesday that nonfungible tokens, or NFTs, will be taxed starting next year. According to The Korea Herald, this tax law amendment would impose a 20% tax on income from virtual assets that exceed 2.5 million won ($2,102) as of Jan. 1, 2022. The FSC’s vice chairman Doh
On Tuesday morning, Regal, a movie operator of more than 500 locations and 7,000 screens in 42 states plus D.C., announced it would be partnering with digital payment network Flexa to enable its customers to pay for movie tickets, food and beverages in crypto. Regal will accept a wide variety of coins and tokens, such
Bitcoin (BTC) has frustrated investors with its recent price correction, but in one country, BTC hodlers have never been more relieved. Market data from TradingView on Nov. 23 confirmed that Bitcoin has hit new all-time highs against the Turkish lira. Bitcoin passes 700,000 lira Turkey is unofficially battling a currency crisis as President Recep Tayyip
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