Coinbase L2 Base hosts 80% of active Uniswap traders — Token Terminal

Base, Coinbase’s layer-2 blockchain network, now hosts approximately 80% of Uniswap’s monthly active traders, crypto researcher Token Terminal said in a post on the X platform.

Base launched in August 2023 and began rapidly gaining market share among decentralized exchange (DEX) traders in early 2024. It has now largely displaced rival blockchains, including Ethereum mainnet…

https://cryptoinsight.ae/coinbase-l2-base-hosts-80-of-active-uniswap-traders-token-terminal/

Website | Twitter | LinkedIn | Telegram

BIS, Bank of England unveil Project Pyxtrial for stablecoin monitoring

The Bank for International Settlements (BIS) and Bank of England have released the results of their Project Pyxtrial to monitor the reserves of asset-backed stablecoins and tokenized assets. Pyxtrial is described as a proof-of-concept and an “important first step.”

The system is not entirely ready for launch and, as its creators noted, the world isn’t…

https://cryptoinsight.ae/bis-bank-of-england-unveil-project-pyxtrial-for-stablecoin-monitoring/

Website | Twitter | LinkedIn | Telegram

Bitcoin miner Riot Platforms miss estimates with wider Q2 loss

Bitcoin miner Riot Platforms missed estimates after posting its first quarterly loss since 2022, as the miners continues to feel the impact of April’s halving event.

Riot posted a Q2 net loss of $84.4 million, or $0.32 per share, double the $0.16 per share loss  forecasted by investment research firm Zacks. It’s the first time…

https://cryptoinsight.ae/bitcoin-miner-riot-platforms-miss-estimates-with-wider-q2-loss/

Website | Twitter | LinkedIn | Telegram

Hello there!
Day started from:

The global cryptocurrency market cap today is $2.39 Trillion, a -1.1% change in the last 24 hours

Bitcoin ~ $63,859.59 (-0.6%)
Ethereum ~ $3,131.02 (-1.2%)
Solana ~ $161.05 (-4.6%)
Polkadot ~ $5.18 (-3.3%)
Flow ~ $0.6744 (2.2%)

Follow and subscribe - @GulfCryptoInsight

Website | Twitter | LinkedIn | Telegram

ByBit exchange halts operations in France

Popular cryptocurrency exchange ByBit announced it is halting operations in France and restricting account features for French users in an Aug. 1 press release.

ByBit cited “recent regulatory developments” by France’s financial regulator, Autorité des Marchés Financiers (AMF), as the catalyst for halting operations in the European country.

The centralized exchange cautioned French users that…

https://cryptoinsight.ae/bybit-exchange-halts-operations-in-france/

Website | Twitter | LinkedIn | Telegram

How to become a global citizen, with or without crypto — Nomad Capitalist

For centuries, the world’s elite have possessed the knowledge and asset planning to transcend national borders and become international citizens, seeking favorable tax jurisdictions and routes of escape should the economic or political situation deteriorate in their home countries. Today, Nomad Capitalist, a tax strategy and immigration advisory firm, brings that knowledge to crypto investors.…

https://cryptoinsight.ae/how-to-become-a-global-citizen-with-or-without-crypto-nomad-capitalist/

Website | Twitter | LinkedIn | Telegram

July crypto hacks total $266M, WazirX leads losses

In July, online hackers stole around $266 million from the cryptocurrency ecosystem and its investors through 16 separate attacks.
On July 18, Indian crypto exchange WazirX lost over $230 million to a major hack — representing 86.4% of the total crypto lost to hacks in the month. After independent investigations, the hack was attributed to…

https://cryptoinsight.ae/july-crypto-hacks-total-266m-wazirx-leads-losses/

Website | Twitter | LinkedIn | Telegram

Hello there!
Day started from:

The global cryptocurrency market cap today is $2.3 Trillion, a -4.2% change in the last 24 hours

Bitcoin ~ $61,695.08 (-3.3%)
Ethereum ~ $2,977.74 (-4.9%)
Solana ~ $152.07 (-5.3%)
Polkadot ~ $5.18 (0.1%)
Flow ~ $0.5944 (-11.8%)

Follow and subscribe - @GulfCryptoInsight

Website | Twitter | LinkedIn | Telegram

Lido launches institutional-grade liquidity staking solution

Lido Finance has introduced Lido Institutional, an institutional-grade liquidity staking solution aimed at large customers such as custodians, asset managers and exchanges.
Lido Institutional is a middleware solution that “combines the reliability and security necessary for enterprise-grade staking with the liquidity and utility required for diverse institutional strategies,” Lido said in a post on X.…

https://cryptoinsight.ae/lido-launches-institutional-grade-liquidity-staking-solution/

Website | Twitter | LinkedIn | Telegram

Morgan Stanley wealth managers to embrace BlackRock, Fidelity Bitcoin ETFs: Report

Morgan Stanely, the largest wealth manager in the United States, will soon allow its 15,000 financial advisers to start recommending Bitcoin exchange-traded funds (ETFs) to clients, according to a CNBC report.
Starting Aug. 7, Morgan Stanley wealth managers can begin advising eligible clients to buy shares of two BTC ETFs — BlackRock’s iShares Bitcoin Trust…

https://cryptoinsight.ae/morgan-stanley-wealth-managers-to-embrace-blackrock-fidelity-bitcoin-etfs-report/

Website | Twitter | LinkedIn | Telegram

Ethereum futures open interest hits 19-month high, yet ETH price weakness intensifies

Ether experienced a 10% correction between July 31 and Aug. 2, retesting the $3,000 support for the first time since July 8. This movement significantly outpaced the broader cryptocurrency market, which declined by 6.8% during the same period. Despite this, Ether futures open interest rose to its highest level in seven months, leading traders to…

https://cryptoinsight.ae/ethereum-futures-open-interest-hits-19-month-high-yet-eth-price-weakness-intensifies/

Website | Twitter | LinkedIn | Telegram

Hello there!
Day started from:

The global cryptocurrency market cap today is $2.25 Trillion, a -1.9% change in the last 24 hours

Bitcoin ~ $60,747.79 (-1.5%)
Ethereum ~ $2,914.18 (-2.1%)
Solana ~ $143.28 (-5.7%)
Polkadot ~ $5.04 (-2.8%)
Flow ~ $0.5619 (-5.4%)

Follow and subscribe - @GulfCryptoInsight

Website | Twitter | LinkedIn | Telegram

Grayscale Ethereum ETF outflows exceed $2B

United States-based spot Ether exchange-traded funds (ETFs) saw significant movements on Aug. 2, with outflows from the Grayscale Ethereum Trust (ETHE) hitting $2.1 billion.
According to data from SoSoValue, the total net outflows from spot Ether ETFs exceeded $54 million on Aug. 2. A significant portion of the outflows came from ETHE, which saw a…

https://cryptoinsight.ae/grayscale-ethereum-etf-outflows-exceed-2b/

Website | Twitter | LinkedIn | Telegram

Crypto leaders, Harris campaign officials to hold roundtable

Crypto executives are scheduled to meet privately “next week” with White House aides and Democratic Party Representative Ro Khanna to address pressing issues and propose policy changes.
According to a Bloomberg report, the roundtable will include high-ranking officials from Vice President Kamala Harris’s election campaign and the White House, including outgoing senior White House adviser…

https://cryptoinsight.ae/crypto-leaders-harris-campaign-officials-to-hold-roundtable/

Website | Twitter | LinkedIn | Telegram

The USA can (and should) dedicate more energy to Bitcoin mining

Depending on who you listen to, crypto is a blessing or a curse. Many, like Texas Lieutenant Governor Dan Patrick, have convinced themselves our near future will be marked by a massive growth in energy demand to support Bitcoin mining that may ultimately break the electrical grid. On the other hand, former President Donald Trump…

https://cryptoinsight.ae/the-usa-can-and-should-dedicate-more-energy-to-bitcoin-mining/

Website | Twitter | LinkedIn | Telegram

Hello there!
Day started from:

The global cryptocurrency market cap today is $1.85 Trillion, a -17.8% change in the last 24 hours

Bitcoin ~ $50,389.51 (-17.3%)
Ethereum ~ $2,214.36 (-24.0%)
Solana ~ $115.12 (-19.8%)
Polkadot ~ $3.73 (-26.1%)
Flow ~ $0.4495 (-20.1%)

Follow and subscribe - @GulfCryptoInsight

Website | Twitter | LinkedIn | Telegram

$300B plunge: Largest 3-day wipeout for crypto in a year

The crypto market has just clocked its largest three-day sell-off in almost a year, shedding $313 billion since Aug. 2.

The sharp crypto sell-off arrived amid faltering performance from equities with the S&P 500 falling as much as 4.4% in the same time frame.

The market stumble has been led by weak employment data, slowed…

https://cryptoinsight.ae/300b-plunge-largest-3-day-wipeout-for-crypto-in-a-year/

Website | Twitter | LinkedIn | Telegram

2 reasons Solana and other altcoins ETFs may struggle — Sygnum Bank

Solana, Cardano and other crypto assets have a slim chance of being approved as spot exchange-traded funds (ETFs) in the United States and could have an even more difficult time attracting investors.
Speaking to Cointelegraph, Katalin Tischhauser, head of investment research at Sygnum Bank, joined a recent string of commentators who expressed skepticism that other…

https://cryptoinsight.ae/2-reasons-solana-and-other-altcoins-etfs-may-struggle-sygnum-bank/

Website | Twitter | LinkedIn | Telegram

Galaxy Research warns of sustainability issues for Bitcoin layer-2 rollups

A Galaxy Research report has suggested that most Bitcoin layer-2 scaling networks, particularly “rollups,” may not be sustainable in the long term despite their popularity as a promising method to keep Bitcoin payments cheap, fast and decentralized.
In the report published on Friday, Aug. 2, Galaxy analyst Gabe Parker highlighted the cost of posting data…

https://cryptoinsight.ae/galaxy-research-warns-of-sustainability-issues-for-bitcoin-layer-2-rollups/

Website | Twitter | LinkedIn | Telegram

Hello there!
Day started from:

The global cryptocurrency market cap today is $2.07 Trillion, a 8.6% change in the last 24 hours

Bitcoin ~ $50,389.51 (13.6%)
Ethereum ~ $2,518.66 (16.2%)
Solana ~ $143.03 (27.5%)
Polkadot ~ $4.42 (18.8%)
Flow ~ $0.5325 (18.6%)

Follow and subscribe - @GulfCryptoInsight

Website | Twitter | LinkedIn | Telegram