Nexo offers to buy struggling rival Vauld amid the market consolidation

Сrypto lender Nexo has signed a term sheet with Vauld to explore an all-equity acquisition of the company. Nexo said it plans to restructure the company and pursue an expansion in Southeast Asia and India. Before, Vauld paused operations and said it was exploring restructuring options due to “financial challenges.”

Struggling crypto lender Vauld has…

https://cryptoinsight.ae/nexo-offers-to-buy-struggling-rival-vauld-amid-the-market-consolidation/

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Iran plans to launch a ‘crypto rial’ pilot by the end of August

Iran’s government is taking steps in preparation for the launch of a new digital currency, referred to as the crypto rial. The monetary authority in Tehran hopes to initiate the project’s pilot phase within the next two months.

The authorities of the Islamic Republic are taking the necessary measures to launch a pilot of the…

https://cryptoinsight.ae/iran-plans-to-launch-a-crypto-rial-pilot-by-the-end-of-august/

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“Create, be yourself, develop new technology “, – Jambo co-founder

Jambo is one of the leaders in the African blockchain industry. Their business extends to many areas: Jambo is a venture company, a Web 3.0 super app developer for African countries, and a creator of educational projects, including in the field of cryptocurrencies.

Jambo’s super app concept combines education and gamesharing to earn money and…

https://cryptoinsight.ae/create-be-yourself-develop-new-technology-jambo-co-founder/

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Hello there!
Day started from:

The global cryptocurrency market cap today is $954 Billion, a 1.2% change in the last 24 hours

Bitcoin ~ $20,329.26 (2.1%)
Ethereum ~ $1,168.24 (4.0%)
Solana ~ $36.68 (3.1%)
Polkadot ~ $6.92 (1.8%)
Flow ~ $1.58 (1.5%)

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Institutional investors pour the most into short Bitcoin products of last week’s inflows

Institutional investors loaded up last week on a record $51.4 million worth of investment products offering exposure to shorting the price of Bitcoin (BTC). By recovering from $423 million in outflows the week prior, digital assets investment products managed to pull $64 million in inflows, while ETH products generated the next highest figure at just…

https://cryptoinsight.ae/institutional-investors-pour-the-most-into-short-bitcoin-products-of-last-weeks-inflows/

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Polygon partners with Nothing, making a bet on Web3 phones

Ethereum scaling solution Polygon has partnered with phone maker Nothing to bring Web3 tech to mobile users. The upcoming Nothing Phone (1) will integrate Polygon’s tech for easier mobile access to dApps, games, payments, and more.

While Solana recently announced its Solana Mobile Stack (SMS) software initiative and Saga phone, Polygon revealed Wednesday its own…

https://cryptoinsight.ae/polygon-partners-with-nothing-making-a-bet-on-web3-phones/

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Binance zeros Bitcoin trading fees as it celebrates its 5th anniversary

Binance, the world’s largest crypto exchange by trading volume, said Wednesday it would remove Bitcoin trading fees for its 13 trading pairs: BTC/AUD, BTC/BIDR, BTC/BRL, BTC/BUSD, BTC/EUR, BTC/GBP, BTC/RUB, BTC/TRY, BTC/TUSD, BTC/UAH, BTC/USDC, BTC/USDP, and BTC/USDT.

Binance Founder and CEO Changpeng “CZ” Zhao said in a statement:

“In line with our user-first philosophy, Binance has…

https://cryptoinsight.ae/binance-zeros-bitcoin-trading-fees-as-it-celebrates-its-5th-anniversary/

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DIFX Launches Futures Trading: Innovation Still Thrives Amidst Crypto Turmoil

Grand Cayman, Cayman Islands – 6, July 2022 – Digital Financial Exchange (DIFX), a fully insured cross-asset exchange awarded “Most Trusted Cross-Asset Trading Platform in 2022” and “Best New Trading Platform in 2021”, has launched a unique updated version of its trading platform with a slew of impressive new features. The changes show significant progress…

https://cryptoinsight.ae/difx-launches-futures-trading-innovation-still-thrives-amidst-crypto-turmoil/

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Hello there!
Day started from:

The global cryptocurrency market cap today is $1 Trillion, a 4.8% change in the last 24 hours

Bitcoin ~ $21,852.56 (7.5%)
Ethereum ~ $1,246.45 (6.7%)
Solana ~ $38.03 (3.7%)
Polkadot ~ $7.25 (4.9%)
Flow ~ $1.66 (5.4%)

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Hello there!
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The global cryptocurrency market cap today is $993 Billion, a -1.7% change in the last 24 hours

Bitcoin ~ $21,508.54 (-1.6%)
Ethereum ~ $1,214.94 (-2.5%)
Solana ~ $38.31 (0.7%)
Polkadot ~ $7.14 (-1.5%)
Flow ~ $1.68 (0.6%)

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The first metaverse hospital to launch in the UAE

In the UAE, the first hospital in the metaverse under the management of Thumbay Group will go live this October. It will be a fully functional virtual hospital where patients around the world can use avatars to interact with doctors.

Healthcare provider Thumbay Group announced it has already started work on the project. It will…

https://cryptoinsight.ae/the-first-metaverse-hospital-to-launch-in-the-uae/

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Bankman-Fried says FTX has ‘a few billion’ to support the crypto industry

Sam Bankman-Fried, head of FTX, one of the largest crypto exchanges, said he and his company still have a “few billion” on hand to shore up struggling firms that could further destabilize the digital asset industry, adding that the worst of the liquidity crunch has likely passed.

Bankman-Fried, 30, who lives in the Bahamas where…

https://cryptoinsight.ae/bankman-fried-says-ftx-has-a-few-billion-to-support-the-crypto-industry/

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Turks turning to Bitcoin amid record inflation in 24 years

As the Turkish lira has been losing its power, citizens have been turning to crypto. While Turkey’s annual inflation rate has reached 78.62%, the BTC volume of local P2P trading has increased significantly in Q1 and Q2 2022, compared to Q4 2021.

According to data from the Turkish Statistical Institute, Turkey’s inflation rate has hit…

https://cryptoinsight.ae/turks-turning-to-bitcoin-amid-record-inflation-in-24-years/

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Hello there!
Day started from:

The global cryptocurrency market cap today is $985 Billion, a -1.0% change in the last 24 hours

Bitcoin ~ $21,357.02 (-0.7%)
Ethereum ~ $1,193.15 (-1.8%)
Solana ~ $37.45 (-2.3%)
Polkadot ~ $7.09 (-0.8%)
Flow ~ $1.66 (-1.2%)

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Most Ethereum 2.0 stakers are currently not in profit amid the bear market

After Ethereum’s price declined above 78% since November’s all-time high, just 17% of Ethereum 2.0 stakers are currently in profit, the Glassnode report revealed. Also, the number of deposits into the Ethereum 2.0 contract has fallen in the last few months.

According to the latest report from blockchain analytics firm Glassnode, Ethereum 2.0 stakers are…

https://cryptoinsight.ae/most-ethereum-2-0-stakers-are-currently-not-in-profit-amid-the-bear-market/

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Central African Republic announced the launch of its own CBDC

President of the Central African Republic Faustin-Archange Touadera announced on July 3 that the country would be launching its own CBDC, Sango Coin. The national-backed cryptocurrency initiative to increase the opportunities to build the digital assets industry in the country was revealed during the ‘Sango Genesis’ online conference.

Besides the announcement of a CBDC, speakers…

https://cryptoinsight.ae/central-african-republic-announced-the-launch-of-its-own-cbdc/

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Burn-to-Earn: German entrepreneur in Dubai merges fitness and crypto

Ferhat Kacmaz, a German entrepreneur who moved to Dubai, took the risk of merging fitness and crypto, incentivizing his customers to train with cryptocurrency in his own “burn-to-earn” app Fit Burn. His Fit in Time chain has already spread in the UAE, Bahrain, and Kuwait, with plans to soon open in Saudi Arabia, reflecting the…

https://cryptoinsight.ae/burn-to-earn-german-entrepreneur-in-dubai-merges-fitness-and-crypto/

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Hello there!
Day started from:

The global cryptocurrency market cap today is $951 Billion, a -3.6% change in the last 24 hours

Bitcoin ~ $20,477.58 (-3.9%)
Ethereum ~ $1,144.70 (-3.9%)
Solana ~ $35.19 (-6.0%)
Polkadot ~ $6.76 (-4.4%)
Flow ~ $1.58 (-4.4%)

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Crypto is trying out traditional finance’s failures in hyperspeed, but it’s going to be fine

What is going to be most interesting here is seeing what happens to bitcoin and other cryptos during these Hard Times — writes George Kaloudis on CoinDesk.

The last time I wrote about a stablecoin, it failed spectacularly. So when a colleague of mine suggested I write about MakerDAO’s proposal to invest in US Treasurys…

https://cryptoinsight.ae/crypto-is-trying-out-traditional-finances-failures-in-hyperspeed-but-its-going-to-be-fine/

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Crypto Trends Weekly July 2 – 8

Breaking crypto news from the last week (July 2 – 8, 2022):

July 2: European authorities have reached a milestone deal to regulate the trading of crypto assets in the bloc, to rein in what lawmakers call the “wild west” of financial markets. These standards are designed to protect consumers and increase transparency from companies.…

https://cryptoinsight.ae/crypto-trends-weekly-july-2-8/

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