The Ethereum Foundation just sold $30M in Ether — But will ETH price fall this time?
Ethereum Foundation’s previous big sale of ETH preceded a bear market, but there’s little evidence that such sales affect the general market trend.
On May 6, Ethereum Foundation transferred nearly $30 million in Ether to the Kraken cryptocurrency exchange, causing jitters in the market about a potential selloff event.
ETH price fell 4.8% to $1,900…
https://cryptoinsight.ae/the-ethereum-foundation-just-sold-30m-in-ether-but-will-eth-price-fall-this-time/
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Ethereum Foundation’s previous big sale of ETH preceded a bear market, but there’s little evidence that such sales affect the general market trend.
On May 6, Ethereum Foundation transferred nearly $30 million in Ether to the Kraken cryptocurrency exchange, causing jitters in the market about a potential selloff event.
ETH price fell 4.8% to $1,900…
https://cryptoinsight.ae/the-ethereum-foundation-just-sold-30m-in-ether-but-will-eth-price-fall-this-time/
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Pepe’s sudden drop leaves whale 500k in the red
A memecoin whale who purchased roughly $3 million worth of the Pepe token just days ago is now sitting on an unrealized loss of around $600,000.
The price of new memecoin Pepe (PEPE) has plunged more than 42% only days after reaching its all-time high on May 6, leaving at least one investor with hundreds…
https://cryptoinsight.ae/pepes-sudden-drop-leaves-whale-500k-in-the-red/
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A memecoin whale who purchased roughly $3 million worth of the Pepe token just days ago is now sitting on an unrealized loss of around $600,000.
The price of new memecoin Pepe (PEPE) has plunged more than 42% only days after reaching its all-time high on May 6, leaving at least one investor with hundreds…
https://cryptoinsight.ae/pepes-sudden-drop-leaves-whale-500k-in-the-red/
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Binance halts Bitcoin withdrawals for the second time in 12 hours
The crypto exchange said it temporarily closed BTC withdrawals due to a “large volume of pending transactions.”
Crypto exchange Binance halted Bitcoin withdrawals for the second time on May 8, citing a large backlog of pending withdrawals.
Binance tweeted on May 8 that it closed off BTC withdrawals “temporarily” as there was a “large volume…
https://cryptoinsight.ae/binance-halts-bitcoin-withdrawals-for-the-second-time-in-12-hours/
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The crypto exchange said it temporarily closed BTC withdrawals due to a “large volume of pending transactions.”
Crypto exchange Binance halted Bitcoin withdrawals for the second time on May 8, citing a large backlog of pending withdrawals.
Binance tweeted on May 8 that it closed off BTC withdrawals “temporarily” as there was a “large volume…
https://cryptoinsight.ae/binance-halts-bitcoin-withdrawals-for-the-second-time-in-12-hours/
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Deloitte integrates blockchain for digital credentials
The credentials will “have multiple use cases,” including regulatory compliance for banking and decentralized finance, age verification for e-commerce, private logins and fundraising.
Big Four accounting firm Deloitte has integrated blockchain technology to allow customers to store verification credentials in a single digital wallet to streamline the “typically inefficient” verification processes.
In a May 4…
https://cryptoinsight.ae/deloitte-integrates-blockchain-for-digital-credentials/
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The credentials will “have multiple use cases,” including regulatory compliance for banking and decentralized finance, age verification for e-commerce, private logins and fundraising.
Big Four accounting firm Deloitte has integrated blockchain technology to allow customers to store verification credentials in a single digital wallet to streamline the “typically inefficient” verification processes.
In a May 4…
https://cryptoinsight.ae/deloitte-integrates-blockchain-for-digital-credentials/
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Hello there!
Day started from:
The global cryptocurrency market cap today is $1.19 Trillion, a -1.9% change in the last 24 hours
Bitcoin ~ $27,504.35 (-2.7%)
Ethereum ~ $1,835.52 (-1.7%)
Solana ~ $20.52 (-4.1%)
Polkadot ~ $5.36 (-1.8%)
Flow ~ $0.767930 (-4.5%)
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Day started from:
The global cryptocurrency market cap today is $1.19 Trillion, a -1.9% change in the last 24 hours
Bitcoin ~ $27,504.35 (-2.7%)
Ethereum ~ $1,835.52 (-1.7%)
Solana ~ $20.52 (-4.1%)
Polkadot ~ $5.36 (-1.8%)
Flow ~ $0.767930 (-4.5%)
Follow and subscribe - @GulfCryptoInsight
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Ordinals inscriptions approach 4.8M, nearly doubling in just over a week
The BRC-20 token frenzy has seen the number of Ordinals inscriptions on the Bitcoin network soar 92% in 8 days.
The number of Ordinals inscriptions on the Bitcoin network has witnessed another meteoric rise, almost doubling from 2.5 million to 4.78 million in just the last eight days.
While the Ordinals protocol was initially used…
https://cryptoinsight.ae/ordinals-inscriptions-approach-4-8m-nearly-doubling-in-just-over-a-week/
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The BRC-20 token frenzy has seen the number of Ordinals inscriptions on the Bitcoin network soar 92% in 8 days.
The number of Ordinals inscriptions on the Bitcoin network has witnessed another meteoric rise, almost doubling from 2.5 million to 4.78 million in just the last eight days.
While the Ordinals protocol was initially used…
https://cryptoinsight.ae/ordinals-inscriptions-approach-4-8m-nearly-doubling-in-just-over-a-week/
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What are liquidity provider (LP) tokens, and how do they work?
What are LP tokens?
Liquidity providers deposit assets into a pool to facilitate trades on decentralized exchanges (DEXs) and automated market makers (AMMs) and receive liquidity pool tokens (LP) in return.
Liquidity pool tokens are also called liquidity provider tokens. They act as a receipt for the liquidity provider, who will use them to claim…
https://cryptoinsight.ae/what-are-liquidity-provider-lp-tokens-and-how-do-they-work/
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What are LP tokens?
Liquidity providers deposit assets into a pool to facilitate trades on decentralized exchanges (DEXs) and automated market makers (AMMs) and receive liquidity pool tokens (LP) in return.
Liquidity pool tokens are also called liquidity provider tokens. They act as a receipt for the liquidity provider, who will use them to claim…
https://cryptoinsight.ae/what-are-liquidity-provider-lp-tokens-and-how-do-they-work/
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Worth it? Trader spends $120K on gas buying $155K worth of a memecoin
A user spent an additional 76% of their total purchase price in gas fees on a single memecoin trade.
A single trader just spent a staggering 64 Ether — equivalent to $118,000 — in gas fees purchasing $155,000 worth of a memecoin called Four (FOUR).
According to an update from the popular blockchain tracking service…
https://cryptoinsight.ae/worth-it-trader-spends-120k-on-gas-buying-155k-worth-of-a-memecoin/
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A user spent an additional 76% of their total purchase price in gas fees on a single memecoin trade.
A single trader just spent a staggering 64 Ether — equivalent to $118,000 — in gas fees purchasing $155,000 worth of a memecoin called Four (FOUR).
According to an update from the popular blockchain tracking service…
https://cryptoinsight.ae/worth-it-trader-spends-120k-on-gas-buying-155k-worth-of-a-memecoin/
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Concern over banking crisis reaches levels unseen since 2008 — Poll
According to a recent poll from Gallup, nearly half of Americans are concerned about the safety of their money deposited with banks.
Public opinion of banks appears to be dwindling according to an April survey, as the industry struggles to contain the collapse of several high-profile financial institutions in recent months.
A Gallup poll conducted…
https://cryptoinsight.ae/concern-over-banking-crisis-reaches-levels-unseen-since-2008-poll/
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According to a recent poll from Gallup, nearly half of Americans are concerned about the safety of their money deposited with banks.
Public opinion of banks appears to be dwindling according to an April survey, as the industry struggles to contain the collapse of several high-profile financial institutions in recent months.
A Gallup poll conducted…
https://cryptoinsight.ae/concern-over-banking-crisis-reaches-levels-unseen-since-2008-poll/
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Hello there!
Day started from:
The global cryptocurrency market cap today is $1.19 Trillion, a 0.1% change in the last 24 hours
Bitcoin ~ $27,634.18 (0.4%)
Ethereum ~ $1,841.78 (0.2%)
Solana ~ $20.68 (0.6%)
Polkadot ~ $5.33 (-0.6%)
Flow ~ $0.781372 (2.1%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $1.19 Trillion, a 0.1% change in the last 24 hours
Bitcoin ~ $27,634.18 (0.4%)
Ethereum ~ $1,841.78 (0.2%)
Solana ~ $20.68 (0.6%)
Polkadot ~ $5.33 (-0.6%)
Flow ~ $0.781372 (2.1%)
Follow and subscribe - @GulfCryptoInsight
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Bitcoin ‘under siege’ by BRC-20 coins as fees soar, claims analyst
Bitcoin transactions and fees are at high levels, and 400,000 of them are still unconfirmed on the blockchain.
Increased fees and a backlog of transactions are besieging the Bitcoin network, and it’s due to a popular new “token” standard, according to a CryptoQuant analyst.
Axel Adler Jr, an analyst with the crypto data firm, explained…
https://cryptoinsight.ae/bitcoin-under-siege-by-brc-20-coins-as-fees-soar-claims-analyst/
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Bitcoin transactions and fees are at high levels, and 400,000 of them are still unconfirmed on the blockchain.
Increased fees and a backlog of transactions are besieging the Bitcoin network, and it’s due to a popular new “token” standard, according to a CryptoQuant analyst.
Axel Adler Jr, an analyst with the crypto data firm, explained…
https://cryptoinsight.ae/bitcoin-under-siege-by-brc-20-coins-as-fees-soar-claims-analyst/
Website | Twitter | LinkedIn | Telegram
Aragon launches defensive measures against Arca’s ‘51% attack’
The Aragon Association has pulled plans to give ANT holders voting rights over its DAO in the wake of the attack.
Aragon, an open-source framework designed to launch decentralized autonomous organizations (DAOs), has pulled plans for its native Aragon (ANT) token holders to be given voting rights over the future direction of the organization.
The…
https://cryptoinsight.ae/aragon-launches-defensive-measures-against-arcas-51-attack/
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The Aragon Association has pulled plans to give ANT holders voting rights over its DAO in the wake of the attack.
Aragon, an open-source framework designed to launch decentralized autonomous organizations (DAOs), has pulled plans for its native Aragon (ANT) token holders to be given voting rights over the future direction of the organization.
The…
https://cryptoinsight.ae/aragon-launches-defensive-measures-against-arcas-51-attack/
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Epic CEO mocks ‘metaverse is dead’ notion — 600M coming to the ‘wake’
Epic Games CEO Tim Sweeney made fun of a recent Business Insider article suggesting the metaverse had run its course.
Epic Games CEO Tim Sweeney is just as optimistic about the metaverse as ever, after poking fun at a recent suggestion that online virtual worlds are “dead.”
The now-billionaire video game entrepreneur — creator of…
https://cryptoinsight.ae/epic-ceo-mocks-metaverse-is-dead-notion-600m-coming-to-the-wake/
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Epic Games CEO Tim Sweeney made fun of a recent Business Insider article suggesting the metaverse had run its course.
Epic Games CEO Tim Sweeney is just as optimistic about the metaverse as ever, after poking fun at a recent suggestion that online virtual worlds are “dead.”
The now-billionaire video game entrepreneur — creator of…
https://cryptoinsight.ae/epic-ceo-mocks-metaverse-is-dead-notion-600m-coming-to-the-wake/
Website | Twitter | LinkedIn | Telegram
BoE fintech head says crypto doesn’t ‘fulfill any of the functions of money’
At a recent event, Tom Mutton, the Bank of England’s head of fintech, touted the privacy benefits of CBDCs while denouncing the anonymity of cryptocurrencies.
The Bank of England’s director of fintech, Tom Hutton, recently spoke out on the United Kingdom’s plans to institute a central bank digital currency (CBDC) at the Crypto and Digital…
https://cryptoinsight.ae/boe-fintech-head-says-crypto-doesnt-fulfill-any-of-the-functions-of-money/
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At a recent event, Tom Mutton, the Bank of England’s head of fintech, touted the privacy benefits of CBDCs while denouncing the anonymity of cryptocurrencies.
The Bank of England’s director of fintech, Tom Hutton, recently spoke out on the United Kingdom’s plans to institute a central bank digital currency (CBDC) at the Crypto and Digital…
https://cryptoinsight.ae/boe-fintech-head-says-crypto-doesnt-fulfill-any-of-the-functions-of-money/
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $1.18 Trillion, a -0.4% change in the last 24 hours
Bitcoin ~ $27,528.91 (-0.4%)
Ethereum ~ $1,831.66 (-0.5%)
Solana ~ $20.60 (-0.3%)
Polkadot ~ $5.39 (1.1%)
Flow ~ $0.768772 (-1.7%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $1.18 Trillion, a -0.4% change in the last 24 hours
Bitcoin ~ $27,528.91 (-0.4%)
Ethereum ~ $1,831.66 (-0.5%)
Solana ~ $20.60 (-0.3%)
Polkadot ~ $5.39 (1.1%)
Flow ~ $0.768772 (-1.7%)
Follow and subscribe - @GulfCryptoInsight
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S&P Global attempts to assess crypto assets’ susceptibility to macroeconomics
The ratings agency looked at five areas of interconnectedness between the crypto ecosystem and traditional finance; its lack of firm conclusions may be telling.
Rating provider S&P Global has examined whether or not there is a relationship between crypto assets and macroeconomics in a new report. Its conclusion is a firm “maybe” and the details…
https://cryptoinsight.ae/sp-global-attempts-to-assess-crypto-assets-susceptibility-to-macroeconomics/
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The ratings agency looked at five areas of interconnectedness between the crypto ecosystem and traditional finance; its lack of firm conclusions may be telling.
Rating provider S&P Global has examined whether or not there is a relationship between crypto assets and macroeconomics in a new report. Its conclusion is a firm “maybe” and the details…
https://cryptoinsight.ae/sp-global-attempts-to-assess-crypto-assets-susceptibility-to-macroeconomics/
Website | Twitter | LinkedIn | Telegram
Coinbase calls Pepe a ‘hate symbol,’ prompting calls to boycott the exchange
An email newsletter sent out to Coinbase customers on May 10 caused significant backlash from the Pepe community.
An email sent out to Coinbase customers describing the Pepe meme as a “hate symbol” co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community.
Prominent crypto influencer Borovik.eth shared a screenshot of the…
https://cryptoinsight.ae/coinbase-calls-pepe-a-hate-symbol-prompting-calls-to-boycott-the-exchange/
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An email newsletter sent out to Coinbase customers on May 10 caused significant backlash from the Pepe community.
An email sent out to Coinbase customers describing the Pepe meme as a “hate symbol” co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community.
Prominent crypto influencer Borovik.eth shared a screenshot of the…
https://cryptoinsight.ae/coinbase-calls-pepe-a-hate-symbol-prompting-calls-to-boycott-the-exchange/
Website | Twitter | LinkedIn | Telegram
Circle reportedly adjusts USDC reserves to avoid US default risk
The world’s second-largest stablecoin issuer wants to reduce its exposure to potential US debt defaults.
Stablecoin issuer Circle has reportedly adjusted its reserves treasury in an effort to reduce the risks of United States debt defaults.
According to a May 10 Politico newsletter, Circle CEO Jeremy Allaire said that the firm has adjusted the mix…
https://cryptoinsight.ae/circle-reportedly-adjusts-usdc-reserves-to-avoid-us-default-risk/
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The world’s second-largest stablecoin issuer wants to reduce its exposure to potential US debt defaults.
Stablecoin issuer Circle has reportedly adjusted its reserves treasury in an effort to reduce the risks of United States debt defaults.
According to a May 10 Politico newsletter, Circle CEO Jeremy Allaire said that the firm has adjusted the mix…
https://cryptoinsight.ae/circle-reportedly-adjusts-usdc-reserves-to-avoid-us-default-risk/
Website | Twitter | LinkedIn | Telegram
Fiat-backed stablecoins could be used to post bail in New York under proposed bill
A New York lawmaker has introduced a new bill that proposes to allow certain stablecoins to be accepted as payment for bail.
A New York lawmaker has introduced a new bill that would see dollar-pegged stablecoins accepted as a legal form of payment for bail bonds.
The partisan bill, introduced on May 10 by New…
https://cryptoinsight.ae/fiat-backed-stablecoins-could-be-used-to-post-bail-in-new-york-under-proposed-bill/
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A New York lawmaker has introduced a new bill that proposes to allow certain stablecoins to be accepted as payment for bail.
A New York lawmaker has introduced a new bill that would see dollar-pegged stablecoins accepted as a legal form of payment for bail bonds.
The partisan bill, introduced on May 10 by New…
https://cryptoinsight.ae/fiat-backed-stablecoins-could-be-used-to-post-bail-in-new-york-under-proposed-bill/
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $1.15 Trillion, a -3.1% change in the last 24 hours
Bitcoin ~ $26,381.03 (-4.1%)
Ethereum ~ $1,759.91 (-3.9%)
Solana ~ $20.04 (-2.7%)
Polkadot ~ $5.20 (-3.5%)
Flow ~ $0.735444 (-4.4%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $1.15 Trillion, a -3.1% change in the last 24 hours
Bitcoin ~ $26,381.03 (-4.1%)
Ethereum ~ $1,759.91 (-3.9%)
Solana ~ $20.04 (-2.7%)
Polkadot ~ $5.20 (-3.5%)
Flow ~ $0.735444 (-4.4%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram