Category Archive: Cryptocurrency, No picture
Venezuela turns to crypto for oil trades under renewed US sanctions: Reuters
Venezuela’s state-owned oil company, Petróleos de Venezuela S.A. (PDVSA), is turning to crypto for its oil trades in response to renewed US sanctions that target the nation’s oil and gas industry, Reuters reported on Tuesday.As noted, PDVSA has been utilizing the stablecoin Tether (USDT) for oil exports since the previous year. By the end of […]
ETH could thrive with or without spot Ethereum ETFs
The approval of US spot Ethereum exchange-traded funds (ETFs) could enhance Ethereum’s market valuation. However, even if these ETFs are rejected, it may merely be a bump in the road rather than a roadblock, suggested Jupiter Zheng, Head of Research at HashKey Capital. “If the ETF is denied, it will not be that bearish, as […]
Bitcoin on-chain metrics are “decidedly positive” after the halving, highlights Bitfinex report
The Bitcoin (BTC) on-chain dynamics after its fourth halving indicate that BTC exchange outflows are reaching peaks not seen since January 2023 and that the market is showing a “robust absorption” of selling pressure. According to the latest edition of the “Bitfinex Alpha” report, those are “decidedly positive” on-chain metrics.Since the SEC’s approval of spot Bitcoin […]
“Bitcoin has only parabolic upside after the current accumulation phase”: Rekt Capital
Bitcoin (BTC) underwent its fourth halving event on April 20 and its price rose by roughly 4% since then. According to an X post by trader Rekt Capital, this is because BTC is in its “Post-Halving Re-Accumulation phase”, which might take a few weeks to end and will be followed by a “parabolic upside.”“Bitcoin has […]
“We don’t see killer apps because blockchain structure is not reliable today”: Lava Network core contributor
The Remote Procedure Call (RPC) got the attention of investors recently, propelled by an issue on Solana’s network with dropped transactions. As reported by Crypto Briefing, one of the reasons behind this issue is RPC nodes getting overloaded with transactions.Modular infrastructure Lava Network core contributor Yair Cleper shared his insights with Crypto Briefing about the […]
Celo opts for Optimism as it transitions to L2
After an extensive eight-month evaluation process, cLabs, the development team behind the Celo blockchain, has officially proposed using Optimism’s OP Stack for its transition from a standalone blockchain to an Ethereum-based layer 2 network. ✨A very special 4th anniversary of Celo mainnet’s launch! cLabs Proposes Migrating Celo to an Ethereum L2 leveraging the OP Stack. […]
Bitcoin miners might pivot to AI after the halving — CoinShares
Bitcoin miners may shift their focus towards artificial intelligence (AI) in energy-secure locations following the blockchain’s quadrennial halving, according to a report by digital asset manager CoinShares.The halving, which occurred on Friday evening, slows the rate of growth in bitcoin supply by 50%, potentially leading miners to seek alternative revenue streams.CoinShares noted that mining companies […]
Crypto funds see $206 million in weekly outflows led by US Bitcoin ETFs: CoinShares
Crypto exchange-traded products (ETP) experienced $206 million in outflows last week and a decrease of $18 billion in trading volume, reveals a report by asset management firm CoinShares. Bitcoin (BTC) products represent 28% of the trading volumes, a drop from 55% a month earlier.James Butterfill, CoinShares’ head of research, stated that this trend indicates a […]
Galxe DAO proposes to change token symbol from ‘GAL’ to ‘G’
Galxe DAO has put forward a proposal to change its token symbol from ‘GAL’ to ‘G,’ as part of a broader token contract migration effort. The proposal, introduced by community contributor Steven Lei last Wednesday, seeks to solidify the organization’s brand identity, reduce confusion in the crypto market, and enhance community involvement. The Snapshot vote […]
Shiba Inu raises $12 million in token sale to develop its privacy-centric layer 3 blockchain
The team behind Shiba Inu (SHIB) has successfully raised $12 million through the sale of its not-yet-released token, TREAT, the utility and governance token for Shiba Inu’s new privacy-centric layer 3 blockchain.According to the team’s recent announcement, the round saw the participation of numerous venture capital (VC) firms, including Mechanism Capital, Big Brain Holdings, Cypher […]
