Author: News Room
May 2022 marked the end of Crypto’s last bull run, with the collapse of the TerraUSD stablecoin – an event that saw $45 billion in market capital wiped out in one week. The events that followed resulted in an unrelenting bear market finally ending. However, during this Crypto Winter, projects continued to be built and innovation didn’t stop. The events of the past 18-20 months have seen the industry at large actively trying to remedy the damage done, showing resilience and signs of maturity. How? Well, to start with, regulations have taken a central role in building the industry’s credibility,…
According to the latest data, the Runestone non-fungible token (NFT) compilation has emerged as the leading NFT collection across various multi-chain support marketplaces. As of now, a Runestone NFT’s base price fluctuates between 0.047 and 0.048 bitcoin, which translates to approximately $3,163 based on the current bitcoin exchange rates. Runestone NFT Collection Achieves Top Spot Across Key Marketplaces As of March 17, 2024, data shows that Runestone’s NFT compilation holds the top spot in sales on the Okx and Magic Eden marketplaces. Magic Eden has seen Runestones generate a trading volume of 173.1 BTC or $11,649,906. Since its initial listing,…
According to a recent survey by the Ontario Securities Commission, a whopping 7% of Canadian crypto owners named paying a ransom to a computer hacker as the main reason they used the burgeoning assets in 2023. The survey shows that 40% of Canadian crypto owners either used crypto to convert it to cash or exchanged it for other crypto assets. Only 18% of them actually used digital assets for buying goods or services. The same percentage of Canadian crypto owners are earning yield from stablecoin lending. More findings from the survey Roughly 36% of Canadians hold less than $1,000 of…
Cryptocurrency analyst Ben Armstrong believes Cardano’s ADA is on the verge of a significant bull run. Armstrong based his ADA rally projection on the increasing public notoriety of ongoing activities in the blockchain network. Although Armstrong could not specify if the Cardano team is deliberately orchestrating the surge in awareness, he is confident it is a trend that would positively affect ADA’s price. In a recently uploaded video, the famous analyst noted historical data shows a significant ADA move usually follows such developments in the Cardano ecosystem. Armstrong highlighted the newly launched fiat-backed stablecoin (USDM) on Cardano as one of…
The price of Arbitrum (ARB), a leading layer-2 scaling solution for the Ethereum network, has experienced a decline following a significant token unlock event that saw large investors, colloquially known as whales, sell-off a significant amount on exchanges. According to blockchain analysis service Lookonchain, Arbitrum whales deposited roughly $58 million worth of ARB tokens into cryptocurrency exchanges after the unlock, selling 34 million ARB tokens on leading trading platforms in a move that added significant selling pressure to the market. On March 16, a total of 1.11 billion ARB tokens, representing nearly 42% of the circulating supply, were unlocked. Data…
Altcoin developers of the Metaverse-themed cryptocurrency project Starlink (STARL) announced that the project is no longer officially developed. The entire team, except the founders, left the project, causing an unexpected interruption in the project’s progress. In an open letter addressed to the STARL community, remaining team members shed light on the circumstances that led to this decision. The letter outlines several challenges faced by the project, particularly funding constraints and issues with the project’s original tokenomics. According to the letter, due to insufficient funding the team has relied solely on volunteers for the past year, leading to an unstable environment…
Galaxy4Games and Immutable have joined hands to integrate zkEVM into Skiesverse, the pioneering post-apocalyptic Web3 game. This partnership introduces immutable passports for Web3 gamers, ensuring secure minting of new collections and transparent publication of all smart contracts, marking a significant milestone in the gaming sector.—Skiesverse sets itself apart as a pioneering Web3 post-apocalyptic tactical RPG, boasting a user-driven economy where players can mine resources, craft goods, establish and manage businesses, engage in desert skirmishes, vie for control over cities, and more. The game’s tokenomics feature two tokens facilitating operations with NFTs, ranging from characters and businesses to weapons and armor…
The UK Financial Conduct Authority (FCA) announced that it intends to recover the equivalent of $8 million in costs stemming from the supervision of stablecoins and crypto, according to a March 19 release. The funds will be recovered in the form of fees placed on stablecoin issuers and digital asset custodians. The regulator mainly plans to recover £6.2 million ($7.9 million) related to new stablecoin regulations and a wider regime. It will additionally recover £0.2 million ($254,400) for extending the financial promotions perimeter. Both sums fall under the plan’s “cryptoasset” category. Together, the total costs to be recovered amount to…
In a blog post published on March 19, Brian Armstrong, the Co-Founder and CEO of Coinbase, challenges the prevalent skepticism surrounding the utility of cryptocurrencies. Armstrong confronts the narrative that crypto’s only purposes are speculation and illicit activity, saying that over 50 million Americans and 400 million people globally have engaged with crypto, with illicit activities constituting less than 0.5% of transaction volume. Armstrong points out that, while many are drawn to cryptocurrencies for investment opportunities, the underlying attraction is a fundamental distrust in traditional financial systems. He references the historical decision by the US in the 1970s to sever…
Cryptocurrency markets have faced a challenging week as investors opted to secure profits, leading to a pause in the macro uptrend. In the same way, Stacks (STX), the layer 2 network aimed at making Bitcoin more functional, has been subject to high volatility. However, after a steep fall to $2.47, STX made a rebound towards $2.90, amid market instability. Bitcoin Leads Market Correction The selloff was led by Bitcoin, which suffered a huge pullback from its previous week’s high above $73,000. The fall pushed Bitcoin below the $62,000 level, causing a big correction across the altcoin market. During the market…