A third straight week of positive digital asset inflows has fully corrected nine previous weeks of outflows for the market, according to a report from CoinShares published on July 10. This week’s inflows registered $136 million. Bitcoin (BTC) funds continued their trend of holding the anchor position, with 98% of the inflows coming from BTC. The
Month: July 2023
A person is using the Multichain Executor to drain tokens associated with the AnySwap bridging protocol, according to a July 10 report from on-chain sleuth and Twitter user Spreek. The report follows outflows of over $100 million from Multichain bridges that occurred on July 7, which were reported by the Multichain team as “abnormal.” The
Exchange operator Cboe Global Markets has amended five spot Bitcoin (BTC) Exchange-Traded Fund (ETF) applications to include a surveillance-sharing agreement (SSA) with Coinbase. On July 11, Cboe amended filings with the United States Securities and Exchange Commission (SEC) for the ETFs from Invesco, VanEck, WisdomTree, Fidelity and the joint fund by ARK Invest and 21Shares.
Bitcoin (BTC) held on exchanges is down to where it was at the 2017 BTC price all-time high, data confirms. Tracked by on-chain analytics firm Glassnode, the latest figures show less than 12% of the BTC supply now resides in exchange wallets. Analyst: BTC price “on the cusp of true price discovery” Bitcoin returned to
Caradano’s native gas-paying token ADA received a big blow at the start of June when the SEC regarded it as a security in its lawsuit against Binance and Coinbase. The lawsuit triggered a 42.5% drop in ADA’s price from $0.37 to a two-year low at $0.21 within a few days after SEC’s lawsuit. Additionally, the
In the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), anticipation has reached fever pitch as the community eagerly awaits a ruling. Already 931 days ago, the SEC filed its lawsuit against Ripple Labs and its executives Brad Garlinghouse and Chris Larsen. The last publicly visible action in the litigation occurred
The price of Bitcoin (BTC) has been trading between $29,900 and $31,160 for the past 18 days, causing concern among investors who are looking for explanations for the lack of a clear trend. After a 25.5% rally between June 15 and June 23 leading to Bitcoin’s highest level in 13 months one would expect investors
The Ethereum ecosystem welcomes another layer-2 scaling solution as ConsenSys begins onboarding partners to its Linea network, which has produced significant scaling milestones in testing. Linea is an Ethereum layer-2 scaling network that allows developers to build or migrate decentralized applications for Ethereum. It operates using zero-knowledge proofs and is Ethereum Virtual Machine (EVM) equivalent, meaning its
$30 trillion worth of capital could suddenly unlock for the Bitcoin market if a Bitcoin spot ETF is approved by the U.S. Securities and Exchange Commission, according to Bloomberg ETF analyst Eric Balchunas. That is the estimated amount of assets controlled by financial advisors in the U.S., who would be willing to get exposure to
Bitcoin (BTC) staged a fresh breakout attempt into July 11 as the battle for yearly highs stayed hot. BTC/USD 1-hour chart. Source: TradingView $31,000 reappears in BTC price “leverage crunch” Data from Cointelegraph Markets Pro and TradingView showed BTC price briefly passing $31,000 before the July 10 daily close. In a copycat move, seemingly with
Bitcoin is accepted by various online merchants, travel companies, gift card retailers, food establishments and online service providers, offering diverse options for using cryptocurrency in transactions. While physical stores accepting Bitcoin are less common, they can be found in cryptocurrency-friendly locations. Online merchants Bitcoin is a common payment option accepted by many online merchants. Electronics,
An Ethereum Improvement Proposal (EIP) made on July 7 seeks to standardize how tokens are bridged between networks. The “Sovereign Bridged Token” standard, or EIP-7281, allows token issuers to create canonical bridges across multiple networks. The proposal was co-authored by Arjun Bhuptani, founder of the Connext bridging protocol. In a July 7 social media post,
The Chinese government is now considering additional regulations on artificial intelligence (AI) development that emphasize content control and licensing. A July 11 report from the Financial Times revealed that China’s Cyberspace Administration (CAC) wants to impose a system that would require local companies to obtain a license prior to releasing generative AI systems, according to
The upcoming Bitcoin (BTC) halving is set to blow fresh wind in the sails of Bitcoin-focused stocks such as Michael Saylor founded tech firm MicroStrategy. In a research note shared with Cointelegraph, New York-based investment firm Berenberg Capital Markets explained its reasons for a bullish outlook on MicroStrategy (MSTR), which Berenberg has given a $430
The Arcadia Finance attacker used a reentrancy exploit to drain $455,000 from the decentralized finance (DeFi) protocol, according to a July 10 post-mortem report issued by the app’s development team. A “reentrancy exploit” is a bug that allows an attacker to “re-enter” a contract or interrupt it during a multi-step process, preventing the process from
Andrew Bailey, a Bank of England (BOE) governor, delivered a speech July 10 in which he moved smoothly from the central bank’s efforts to control inflation and maintain public trust in financial institutions to why cryptocurrencies are not money. Instead of cryptocurrencies and stablecoins, he would prefer “enhanced digital money.” The spate of bank failures in the
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