Crypto News

PayPal Joins ConsensYs To Implement Metamask

PayPal Joins ConsensYs To Implement Metamask

The MetaMask wallet is one of the most popular ETH wallets out there. Web3 platforms usually require users to create a MetaMask and use its browser extension version to interact with the content. Most NFT websites, pay-to-earn games, and metaverses use the functionality of MetaMask. It is an easy-to-use tool employed by everyone. The wallet developer is ConsenSys, a team of dedicated coders and technology experts building advanced blockchain solutions and supporting MetaMask. PayPal expands its crypto efforts PayPal is one of the biggest online financial platforms in the world. It is a massive business that allows for quick and…
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Amber Group Acquires Sparrow Holdings To Expand To Singapore

Amber Group Acquires Sparrow Holdings To Expand To Singapore

The deal has been announced on December 14, but some details had to be finalized. Now, Sparrow Holdings, a Singapore-based crypto company that offers a variety of products to its users, is officially a part of Amber Group that had to sort out some financial issues before committing to the deal. Amber Group had ties with FTX and invested about 10% of its trading capital in various FTX’s products. When the FTX collapse created a massive hole in their books, Amber Group pulled out from the deal to do some internal accounting and ensure that they can afford to acquisition.…
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Binance Stopped Withdrawals in USDC on December 11

Binance Stopped Withdrawals in USDC on December 11

In September, Binance announced that they were swapping all stablecoin holdings on their platforms to BUSD, the native stablecoin of the exchange. At the time, many experts took it as a power move to establish dominance over the market. All USDC and USDT accounts were tuned into BUSD. While the CEX platform painted the move as a way to increase the safety of funds, some still thought that it was an attempt at taking over the market. However, the rapid change in the landscape of the market and the sudden FTX collapse made the decision by Binance a bit more…
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Does Grayscale Have Enough Bitcoin In Its Reserves

Does Grayscale Have Enough Bitcoin In Its Reserves

The GBTF story is one of the most important ones in the crypto industry. While people are focused on the FTX drama, we need to talk about other issues, and the case of the Grayscale Bitcoin Trust Fund is a great example. We had a long period of intermediaries entering the market without any proper funding or a good long-term plan to hedge against risks. GTBF is facing scrutiny as it tries to convince investors that it has sufficient Bitcoin holdings to justify its existence and support potential withdrawals. However, their recent announcement that they will be offering a 50%…
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Dubai Is Developing New Cryptocurrency Regulations

Dubai Is Developing New Cryptocurrency Regulations

Dubai, which has been a major hub for digital currencies over the years, is enhancing its profile in part because of the DFSA, the area's regulating body. The organization has now unveiled a brand-new digital currency framework intended to foster regulatory innovation and tactics. Dubai's Cryptocurrency-Friendly Industry is Expanding A statement describing the agency's goals states that the purpose is to maximize transparency in the Dubai crypto market. Ian Johnston, the DFSA's chief executive, stated that as a forward-thinking regulator, the DFSA is aware of the rising need for cutting-edge financial products. They have taken opinions from a wide range of…
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NFT Is Receiving Attention On The Governmental Level

NFT Is Receiving Attention On The Governmental Level

While many are talking about NFTs dying, the reality is that the concept is just gaining momentum with more credible companies entering the arena. With the arrival of Nike, Disney, Starbucks, Coca-Cola, and many other established brands, it is hard to call NFTs a thing of the past. On the contrary, recent events in China and Malta are enough to say that NFTs have a bright future. Malta wants to introduce regulations around NFTs The Malta Financial Services Authority (MFSA) will be implementing new regulations to treat NFTs as goods and services. Non-fungible tokens and transactions involving them will no…
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Polygon Is One Of The Most Promising Projects In The Crypto Industry

Polygon Is One Of The Most Promising Projects In The Crypto Industry

Whenever experts and laymen talk about the crypto industry, we are hearing buzzwords like “cutting-edge technology” and “pushing the boundaries”. However, many DeFi projects are far from being pioneering platforms that are out there to change the way we see the world of finance. The number of startups that failed to live up to the hype is simply too high to say that we have seen something unbelievable. Nonetheless, some projects manage to surprise everyone and build something lasting. Polygon is one of the best examples. Tradfi, new startups, and established brands are flocking to Polygon The network is focused…
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Shibuya Receives A Massive $7 Million Investment From Multiple Sources

Shibuya Receives A Massive $7 Million Investment From Multiple Sources

Shibuya is a decentralized video platform proposed by Emily Yang of Pplpleasr. A new media-hosting web 3.0 service will be using NFTs as a way to govern the production of content on the platform. Holders of NFTs will be able to vote on the direction of any shows that will be published on the service and have a say in other aspects of governance. The idea looks interesting on paper and may have some interesting applications if enough people will be interested in directing shows on their own. NFT sales should also be used to fund content creation. The project…
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The Audit by Mazars Shows Binance Is Overcollateralized

The Audit by Mazars Shows Binance Is Overcollateralized

Binance was the first large crypto exchange to react to the FTX debacle by hiring an external auditor to prove that the company does not have any solvency issues and that its assets match its liabilities in a way that indicates good business conduct. People who have money with this exchange exhaled after the report of Mazars was partially published. While it is not a 100% indication that the exchange is solvent, it is still a very good sign for the industry. 101% in in-scope assets controlled by Binance The auditors made a snapshot of all reserves available to the…
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Multiple Companies Reimagine Themselves And Distance From FTX

Multiple Companies Reimagine Themselves And Distance From FTX

There is no doubt that the FTX debacle has been a game-changer for the whole crypto community and revealed core issues that all businesses must address to remain competitive and retain their reputations. While the collapse of one of the biggest crypto exchanges did create some commotion in various circles, it did not disturb the market to a degree that many experts predicted. Many coins managed to weather the storm just fine and held to their support levels despite losing some value. The reaction of the industry Many companies operating in the domain decided to take action immediately even if…
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NFTs And DeFi Sectors Show No Prominent Signs Of Sustaining Any FTX Pressure

NFTs And DeFi Sectors Show No Prominent Signs Of Sustaining Any FTX Pressure

The devastating impacts that the crypto industry has been facing presently also include the immense pressure caused by FTX’s collapse. The Crypto market is likely to incur further losses and invite more turmoil because of FTX. DappRadar’s Report Show Signs of Strong Resilient However, within these turbulent times, DappRadar’s report indicates a strong presence of resilience in the crypto market stemming from NFT and DeFi sectors. Although the impact of FTX collapse was also felt by decentralized finance (DeFi), however, instead of declining, user activity has increased significantly. Since the past month, the user activity has not only come back…
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Modest Drop in BTC Mining Difficulty Expected Soon

Modest Drop in BTC Mining Difficulty Expected Soon

Bitcoin mining difficulty was further boosted on 20th November by 0.51% when blocks were at the height of 764,064. Although the increase was little yet it allowed the network to see its difficulty level reaching its forever best so far. Since 20th November though Bitcoin’s hashrate is approximately 249.1 exahash per second (EH/s). Longer Block Time Consequences The present block time Bitcoin average range of 10.2 to 11.06 minutes is currently lower than its normal range. However, intervals between the blocks have gapped significantly since the difficulty was last modified on 20th November. Prior to 20th November, and from 29th…
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Ether Suffers a 4% Dip in 24 hours, Technical Indicators are in Sell Zone

Ether Suffers a 4% Dip in 24 hours, Technical Indicators are in Sell Zone

At the time of publication, Ether (ETH) seems to be exchange hands at $1,170 and it is a low price compared to the past 24 hours. This is because, in this particular window, the trading price of ETH has suffered a loss. The trading price of the second-largest crypto has shed 4% of its trading value, moving down to its current trading price. The overall trading volume for ETH in the past 24 hours has been $5 billion. The overall valuation of ETH has also suffered a similar 4% loss, moving down to $143 billion. A Strong Selling Trend According…
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Lead Digital Currencies BTC And Ethereum Technical Analysis

Lead Digital Currencies BTC And Ethereum Technical Analysis

Global trade markets, particularly the ones in the US, are reacting positively to the minutes of the FOMC’s latest meeting as a result of which Ethereum’s value went past $1,200. The minutes of the meeting suggested that interest rates though be increased yet not so exorbitantly but lesser than the previous months. Bitcoin’s performance however was relatively unchanged as neither there were any prominent gains or declines. Bitcoin’s Reaction to FOMC’s Minutes Federal Open Market Committee’s (FOMC’s) meeting had taken place and the minutes have been recorded and circulated too. The minutes of the meeting revealed that a small increase…
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Investors Should Be Worried As 10,000 Bitcoin Have Just Been Moved

Investors Should Be Worried As 10,000 Bitcoin Have Just Been Moved

Just when the overall cryptocurrency industry started witnessing a recovery, an alarming revelation has been made about 10,000 Bitcoin (BTC). Bitcoin is also among the assets that had recently started moving in a positive direction. Unfortunately, a recent revelation pertaining to the movement of 10,000 BTCs has increased fear among BTC investors. A Dormant Wallet is on the Move According to the crypto market observing firms, a wallet that had been dormant for many years has finally made a move. The status of the wallet is ‘unknown’ as it hasn’t been established to whom the wallet belongs. However, it has…
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Report From Analysts Shows Cryptocurrency Industry Would Survive FTX Contagion

Report From Analysts Shows Cryptocurrency Industry Would Survive FTX Contagion

In May 2022, the Terra ecosystem suffered from a massive crash and even now, its impact has lingered with the entire crypto industry. However, several months after the crash, the majority of the cryptocurrency industry had started to recover. Just when it seemed that things were indeed getting on the right track, the FTX incident happened. As a result, the entire cryptocurrency industry’s recovery was badly interrupted. To some extent, the crypto market’s overall recovery was restarted. This means that the industry would need even more time to recover from the downtrend. As per many market analysts, the crypto market…
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High Confidence in Litecoin May Help LTC Surge to $75

High Confidence in Litecoin May Help LTC Surge to $75

Just as the year 2022 is coming to an end, a great amount of growing interest is being witnessed for Litecoin (LTC). It is the second-oldest cryptocurrency was launched back in 2011 and ranks second to Bitcoin (BTC) in the particular category. The asset is reportedly becoming one of the most attractive digital currencies in recent weeks. It has been witnessing a significant boost and it has largely avoided the impact that came from the FTX crash. The situation is becoming quite favorable for Litecoin as the halving of the asset approaches in the third quarter of 2023. Let us…
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Quant Sees Demand At Lower Levels, May Try To Shoot Up To $180

Quant Sees Demand At Lower Levels, May Try To Shoot Up To $180

A few days back the trading price of Quant (QNT) experienced a significant boost. The price of QNT surged significantly and just when the bulls were getting ready for a strong rally, its price corrected. This meant that the short-term investors started selling their investments in QNT, which caused its price to correct itself. It started to decline and started moving closer to the support levels. However, the bulls were not ready to give up that easily, they were quick to respond with their strong buying sentiments. They started to gather close to the support level and were able to…
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A Great Battle Going On Between Ether Bears And Bulls, Making $1,200 A Battleground

A Great Battle Going On Between Ether Bears And Bulls, Making $1,200 A Battleground

As the last weekend began, the trading price of both Bitcoin and Ether was down. They started experiencing declines in their values, which is because the investors lost their interest in the assets. The bears were in strong spirits as they kept bashing the bulls and continued with their onslaught. They kept pulling the trading prices of both assets. Although Bitcoin was able to show some signs of a bullish move, Ether bulls were not able to make much of a difference with their buying power. ETH Price was to lose $1,200 Compared to the rest of the weekend, Saturday…
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Bitcoin And Ether Investors Are Still Traumatized By FTX Crash

Bitcoin And Ether Investors Are Still Traumatized By FTX Crash

The fallout of the FTX crash seems to be much more than the market analysts had expected. Despite the FTX Token (FTT), the native token of FTX taking most of the damage, other cryptos are also badly affected. This is not a good sign for the entire cryptocurrency because if the trauma of the FTX crash does not go away, the entire crypto industry may continue suffering. Bitcoin and Ethereum Feel the Pressure Even the two largest cryptocurrencies are not able to save themselves from the FTX catastrophe. Bitcoin and Ethereum continue losing their investors as they have been losing…
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