Author: News Room

The price of Bitcoin (BTC) has declined by more than 17.5% a week after setting a new record high of around $73,800. As of March 20, it has reached a two-week low of $60,760.BTC/USD daily price chart. Source: TradingViewBitcoin’s price drop coincides with anticipations that the Federal Reserve will maintain its key interest rates within the existing 525-550 basis points (bps) range. Furthermore, the continued withdrawals from Bitcoin exchange-traded funds (ETFs) are exacerbating the downward pressure on its price.Let’s discuss how low can the Bitcoin price go in the ongoing correction cycle.BTC price could break below $60,000 support in MarchThe…

MicroStrategy has substantially increased its Bitcoin reserves. Following the completion of its senior convertible notes offering, the company announced the acquisition of an additional 9,245 Bitcoin (BTC). This purchase propelled MicroStrategy’s total holdings to a staggering 214,246 BTC, valued at $7.53 billion. It marks a significant milestone, positioning the firm as a dominant player with over 1% of the finite 21 million Bitcoin supply. MicroStrategy Among Biggest Bitcoin Holders Michael Saylor, the founder and executive chairman of MicroStrategy, highlighted the firm’s relentless pursuit of Bitcoin accumulation. The latest acquisition, costing $623 million, showcases the company’s strategic investment at an average…

Goldman Sachs continues to back Bitcoin, even after its value slipped to $60,000. The investment giant’s digital assets chief, Mathew McDermott, has noted a significant shift. Now, more institutional investors are entering the crypto market, previously led by retail investors. Why Goldman Sachs is Bullish on Bitcoin At the Digital Asset Summit in London, McDermott shed light on the changing tide of investment. Despite a recent fall in Bitcoin’s price from a high of nearly $73,798 to around $63,000, institutional interest has surged. This interest is evident in the fluctuating dynamics of Bitcoin exchange-traded funds (ETFs). Early January saw the…

COTI’s privacy-focused Ethereum L2 development reached a critical milestone by successfully integrating its Multi-Party Computation (MPC) protocol. Its token price surged approximately 55% following this technical achievement.MPC is a powerful cryptographic tool that allows several parties to work together on a computation using their private data without revealing that data to each other. COTI confirms that the successful implementation of the MPC protocol represents the first in a series of technical goals they will meet before COTI V2 is fully deployed.COTI V2 architecture and MPC integration.COTI V2 architecture hinges on MPC technology, ensuring the privacy of its Layer 2 computations…

While the blockchain industry has correctly pointed out key issues in the worlds of legacy tech, finance, art, and culture, the revolution promised is yet to materialize, with the tools being designed to address those challenges are not yet at the required standard.Technical inefficiencies have stifled the development of truly decentralized systems, and decentralized finance (DeFi) platforms have shown vulnerabilities to data breaches of their own. From January to November 2023, over $1.7M in assets was lost due to hacks, with nearly 300 specific incidents.As we begin 2024, things are looking brighter due to ongoing developments in zero knowledge (ZK)…

MetaMask, a leading crypto wallet, has partnered with Web3 security firm Blockaid to fortify security measures for its users across various chains, including Ethereum, Linea, BNB Chain, Polygon, Arbitrum, Optimism, and Avalanche.In a Feb. 20 statement shared with CryptoSlate, the firms explained that the collaboration would equip users with enhanced security alerts that would promptly notify them of threats like phishing attempts, scams, and hacks while safeguarding their assets.According to the statement, the companies have “pioneered a unique privacy-preserving module that effectively simulates transactions while eliminating the need to share every single transaction and signature request with external parties.”The firms…

In only a few years, decentralized networks have witnessed tremendous growth, with treasuries collectively surpassing the $25 billion mark and memberships swelling. As several US states and nations like Switzerland, Malta, and Hong Kong introduce favorable crypto legislation, it’s hard not to see Web3 as the future shape of business organizations.However, the blockchain space currently has hundreds of competing protocols, and developers often have to choose between launching on a single chain, limiting their reach, or integrating several chains, which can be complex and open up new vulnerabilities, not to mention stifling liquidity. This fragmentation hinders collective progress and limits…

Tether has released a plan to safeguard its stablecoin USDT in the event that the blockchains it operates on become unresponsive. According to a new press release, Tether is making improvements to increase both blockchain resilience and user protection in a worst-case scenario type of event. Because USDT is used on so many different blockchains, Tether says a “blockchain recovery plan” is necessary if any USDT transactions are disrupted. With such a plan in place, Tether aims to avoid any user disruption and maintain USDT accessibility. “Tether is a lifeline for hundreds of millions of users across the globe. Tether is…

Avail, a blockchain infrastructure project, raised $27 million in its seed funding round led by notable venture capital firms Founders Fund and Dragonfly, according to a Feb. 26 statement shared with CryptoSlate.The raised capital will fuel the development of Avail’s three fundamental products: Data Availability (DA), Nexus, and Fusion. These components, forming what it terms the “Avail Trinity,” are poised to expedite the integration of web3 networks.Anurag Arjun, co-founder of Avail, elucidated that the project lays the groundwork for a cohesive future in Web3 by constructing a unified framework where platforms operate in unity rather than isolation.Arjun said:“Rollup tooling will…

Core Blockchain development company ARAX and bond issuer Longevity Capital Company (LCC) have partnered to introduce a blockchain-based solution for the life insurance settlement investment sector.Aiming to redefine the life settlement bond market, ARAX and LCC have unveiled a collaboration that has led to the creation of a tokenized fractional life settlement bond platform, aiming to enhance transparency and democratize access to what has traditionally been an investment avenue for large institutional investors.Life settlements are financial arrangements where the owner of a life insurance policy sells it to a specialized buyer (often a company or investor) for a lump sum…