CZ took to Twitter on July 21 to warn his readers about phishing and other social engineering scams. He also recommended cryptocurrency exchange users rely on hardware devices for two-factor authentication instead of using mobile carrier-based 2FA, for example.Continue Reading on Coin Telegraph More
Conic Finance was exploited for $3.26 million in Ether (ETH), the Web3 risk-alert source Beosin Alert reported on July 21. Nearly the entire amount of stolen cryptocurrency was sent to a new Ethereum address in just one transaction, according to data provided by Beosin.Continue Reading on Coin Telegraph More
Have you finished the standard content of the game? Then why not relive the industrial revolution with custom-built mods? Or enter a competition to see who can build a construction first against hundreds of others? There is a server for that. Pokemon in Minecraft? Pixelmon! Continue Reading on Coin Telegraph More
This article explores the contrasting characteristics of DApps and protocols, shedding light on their respective functionalities and importance in the world of decentralized technologies.Continue Reading on Coin Telegraph More
Data shows that S&P 500 and gold diverge with Bitcoin with a correlation of -0.05 and -0.12, respectively. Meanwhile, the greenback and Nasdaq slightly moved in sync with the king of crypto since their correlation figures stood at 0.04 and 0.12, respectively. Notably, Bitcoin and Ethereum have the highest positive correlation at 0.70. Bitcoin versus gold, usd, and equities correlation: Source: RedditOverall, the study’s results suggest that Bitcoin is a distinct asset class since its correlations with major traditional financial assets are generally weak or negligible. This independent nature suggests that Bitcoin’s performance may, under ordinary market conditions, not be significantly influenced by the volatility of other assets, especially in traditional finance, including stocks and precious metals. The decrease in correlation is seen as a net positive for Bitcoin. Subsequently, this may make Bitcoin a more appealing investment option for those seeking portfolio diversification. The bitcoin-equities correlation might continue falling in the coming months, considering recent developments in the crypto sphere. For example, the recent spot Bitcoin ETF filings by major financial institutions like BlackRock (NYSE:BLK) and Fidelity, have sparked optimism and increased investor interest in Bitcoin. Although the United States Securities and Exchange Commission (SEC) has been cautious and has yet to approve a spot Bitcoin ETF, the community is overly upbeat that there have been improvements, and the regulator could eventually green-light one.Approving this crypto derivative will likely support Bitcoin prices as institutions would have a means of diversifying into the world’s most liquid crypto asset, finding exposure for potential high growth in months ahead.Despite the positive outlook for Bitcoin due to reduced correlation, analysts remain cautious about potential macroeconomic factors that could impact prices, such as monetary policy changes as seen throughout 2022 and the better half of 2021.However, the long-term outlook for Bitcoin remains optimistic for now, given its deflationary nature and increasing adoption. In Q2 2024, the Bitcoin network will adjust its emissions, slashing miner rewards by half to 3.125 BTC, increasing the coin’s scarcity.This article was originally published on Crypto.news More
A collaboration between the China Merchants Bank and the Civil Aviation Administration of China led to the introduction of a digital yuan platform, which aims to facilitate transactions for travelers in the aviation network, according to a local media report.Continue Reading on Coin Telegraph More
Some major whales have instigated movements amounting to hundreds of millions of dollars in crypto. These transactions span a range of digital assets, including industry giants Bitcoin (BTC) and Ethereum (ETH), as well as emerging platforms such as Solana (SOL) and Chainlink (LINK), and meme cryptocurrencies like Shiba Inu (SHIB).As reported by Whale Alert, a tracking platform committed to monitoring large crypto transactions, an unidentified investor relocated an enormous sum of 14,159 BTC, translating to approximately $421.7 million, from one undisclosed digital wallet to another. Further hefty BTC movement comprised of 1,881 units ($55.9 million) transferred to Coinbase (NASDAQ:COIN).Moreover, attention was drawn to considerable transactions involving Ethereum and Solana. Notably, Ethereum saw a $51.6 million worth of crypto transferred, while Solana reported a slightly larger $53.9 million movement.Whale Alert’s data revealed a whopping 27,366 ETH being shifted from Binance.US – the American counterpart of the world’s most voluminous cryptocurrency exchange – to an undisclosed wallet.In addition, a Solana movement of 2,000,000 SOL, from Binance to an anonymous wallet, was documented. Another 409,823 SOL ($10.3 million) were moved back to Binance from an undisclosed wallet.Interesting movements were also seen with Shiba Inu and Chainlink, a decentralized oracle network. As per the updates, a mammoth amount of 2,416,836,656,676 SHIB ($18.7 million) was transferred from Binance.US to a hidden wallet, while 3,743,238 LINK ($29.9 million) was moved from one covert wallet to another.While the reasons behind these transactions remain undisclosed, these large-scale movements inevitably influence market behavior and the valuation of these digital assets.This article was originally published on Crypto.news More
Coinbase, the largest centralized cryptocurrency exchange in the United States, has revealed that it is shutting down its lending service, Coinbase Borrow.This program had previously allowed customers to secure fiat loans of up to $1 million, leveraging as much as 30% of their BTC holdings at an annual interest rate of 8.7%. The wind-down process began in May when users were first informed about discontinuing new loan applications under the program.In the latest announcement, Coinbase provided further clarity, stating that existing loan holders must settle any outstanding loan balances by Nov. 20, 2023. This news will likely impact users relying on the borrowing service for various financial purposes, and they will need to make alternative arrangements before the specified deadline. After the deadline, Coinbase will close all accounts by selling enough Bitcoin (BTC) collateral to settle any unpaid debt. The exchange says that interest rates will remain the same, and borrowers can pay off their loans early without facing any penalties. This update comes after Berenberg Capital analysts suggested that despite Ripple’s legal victory, Coinbase is still facing regulatory challenges in the United States. They opined that Coinbase’s suspension of its staking service in certain states could attract further scrutiny from the Securities and Exchange Commission (SEC) as the company has been sued for operating an unregistered securities exchange.On another front, Coinbase CEO Brian Armstrong recently met with a bipartisan group of US House Representatives politicians to discuss proposed new laws regarding digital assets. This underlines the importance of regulatory discussions in the cryptocurrency industry. Coinbase’s decision to close Coinbase Borrow does not impact Coinbase Prime Financing customers, as these are separate products and services.This article was originally published on Crypto.news More
