Gulf Crypto Insight
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The first and only blockchain and cryptocurrency focused news portal in the Middle East.
https://cryptoinsight.ae/

The Content is for informational purposes only, you should not consider any such information or other material as financial or other advice
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Vitalik Buterin endorses TiTok AI for onchain image storage

Ethereum co-founder Vitalik Buterin has endorsed the new Token for Image Tokenizer (TiTok) compression method for its potential blockchain application.
Not to be confused with the social media platform TikTok, the new TiTok compression method significantly reduces image size, making it more practical for storage on the blockchain.

Buterin highlighted TiTok’s blockchain potential on the…

https://cryptoinsight.ae/vitalik-buterin-endorses-titok-ai-for-onchain-image-storage/

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Day started from:

The global cryptocurrency market cap today is $2.54 Trillion, a 0.0% change in the last 24 hours

Bitcoin ~ $66,168.45 (0.0%)
Ethereum ~ $3,561.25 (0.0%)
Solana ~ $147.11 (2.0%)
Polkadot ~ $6.28 (1.0%)
Flow ~ $0.6951 (-3.9%)

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ZkSync defends Sybil measures as Binance offers own ZK token airdrop

Ethereum zero-knowledge layer-2 scaling platform zkSync has continued to defend criticism over the criteria for its zkSync (ZK) token airdrop, slated to launch on June 17.

In a frequently asked questions (FAQ) document updated on June 15, ZK Nation answered 15 questions mostly aimed at explaining why some groups were eligible for the token while…

https://cryptoinsight.ae/zksync-defends-sybil-measures-as-binance-offers-own-zk-token-airdrop/

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Ethereum scaling ecosystem’s combined TPS hits new all-time high

The Ethereum ecosystem’s combined transactions per second (TPS) has exploded to a new all-time high, thanks to a sudden TPS spike in a relatively unknown Ethereum layer 3.

L2BEAT data shows that the Ethereum scaling networks, including layer-2 and layer-3 blockchains, registered a combined 246.18 TPS on June 16, which equates to an estimated 21.2…

https://cryptoinsight.ae/ethereum-scaling-ecosystems-combined-tps-hits-new-all-time-high/

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Crypto startup funding eclipses $100B

More than $100 billion has been raised for cryptocurrency startups since the end of May 2014.

Looking back, there have been highs and lows amid regulatory uncertainty and market volatility. But the past four years have seen both the ceiling and floor raised despite continuing peaks and troughs.

Data sourced from TVL aggregator DefiLlama shows…

https://cryptoinsight.ae/crypto-startup-funding-eclipses-100b/

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The global cryptocurrency market cap today is $2.48 Trillion, a -2.7% change in the last 24 hours

Bitcoin ~ $65,665.46 (-0.9%)
Ethereum ~ $3,449.16 (-3.3%)
Solana ~ $136.91 (-7.0%)
Polkadot ~ $5.79 (-7.8%)
Flow ~ $0.6067 (-12.3%)

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41% of top ZK airdrop wallets have already sold everything: Nansen

Nearly half of the top wallets that received the new zkSync (ZK) token on Monday have already sold their entire allocation in the airdrop, contributing to a 34.5% fall in the price of ZK since its launch.

Data from blockchain analytics firm Nansen shows that nearly 41% of tracked addresses sold their entire airdrop, while…

https://cryptoinsight.ae/41-of-top-zk-airdrop-wallets-have-already-sold-everything-nansen/

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Corporate adoption is in ‘amateur league’ despite Bitcoin ETFs

Corporate adoption and trust in the cryptocurrency industry are still in their infancy, despite the previous approval of the first spot Bitcoin exchange-traded funds (ETFs).
The regulatory approval of the first spot Bitcoin ETFs in the United States was considered a turning point for the legitimacy of the crypto industry, introducing the first publicly traded…

https://cryptoinsight.ae/corporate-adoption-is-in-amateur-league-despite-bitcoin-etfs/

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The global cryptocurrency market cap today is $2.51 Trillion, a 0.9% change in the last 24 hours

Bitcoin ~ $65,480.16 (-0.3%)
Ethereum ~ $3,554.90 (3.0%)
Solana ~ $140.26 (2.4%)
Polkadot ~ $5.91 (2.1%)
Flow ~ $0.6228 (2.6%)

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SEC to drop investigation into Ethereum — Consensys

The United States Securities and Exchange Commission (SEC) is dropping its investigation into whether Ether is a security.
“The Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,” Ethereum developer Consensys said in a June 19 X post.

“This means that the SEC will not bring charges…

https://cryptoinsight.ae/sec-to-drop-investigation-into-ethereum-consensys/

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Fox, Time use blockchain to combat fake news

Fox Corporation and the global media brand Time have partnered to use Fox’s Verify protocol to make content licensing and verification immutable.
The collaborative effort aims to ensure journalism’s authenticity and combat misinformation in the press.

Mark Howard, Time’s chief operating officer, emphasized this goal, stating:
“Time is proud to join Fox’s Verify as an…

https://cryptoinsight.ae/fox-time-use-blockchain-to-combat-fake-news/

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MetaMask privacy updates: What users should know

Consensys, the company behind MetaMask, has updated its privacy policy to improve user consent, transparency and control of their personal data.
According to a press release shared with Cointelegraph, the changes aim to apply greater privacy and security measures for users of Consensys’ services, including MetaMask.
“As a blockchain software company whose mission is to…

https://cryptoinsight.ae/metamask-privacy-updates-what-users-should-know/

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Day started from:

The global cryptocurrency market cap today is $2.52 Trillion, a 0.4% change in the last 24 hours

Bitcoin ~ $65,522.01 (0.0%)
Ethereum ~ $3,581.18 (0.7%)
Solana ~ $136.32 (2.9%)
Polkadot ~ $5.91 (0.1%)
Flow ~ $0.6495 (4.4%)

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Ethereum (ETH) price fails to rally in the face of good news — Here is why

Ether has been under pressure since June 7, when it lost the $3,800 support level. Despite a series of positive developments, its price remained below $3,600 on June 19, showing no weekly change.

Some analysts believe that the primary reason for the bearish momentum is a lack of institutional demand for cryptocurrencies. Others attribute it…

https://cryptoinsight.ae/ethereum-eth-price-fails-to-rally-in-the-face-of-good-news-here-is-why/

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Iran to launch public CBDC pilot in June

The Central Bank of Iran (CBI) is launching a national digital currency in a public pilot targeting domestic micropayments.
On June 18, the CBI officially announced the launch of a pilot scheme for Iran’s central bank digital currency (CBDC), the digital rial.

As part of the pilot, the Iranian digital currency will be available to…

https://cryptoinsight.ae/iran-to-launch-public-cbdc-pilot-in-june/

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Bitcoin block size hits yearly low: Impact of BTC halving?

The Bitcoin network has experienced a significant decline in its average block size and transaction rates, coinciding with a fall in price to around $64,100.
The drop in block size — the measure of transaction data included in each block — indicates a sharp fall in Bitcoin blockchain activity, which hit a yearly low on…

https://cryptoinsight.ae/bitcoin-block-size-hits-yearly-low-impact-of-btc-halving/

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Hello there!
Day started from:

The global cryptocurrency market cap today is $2.48 Trillion, a -1.3% change in the last 24 hours

Bitcoin ~ $64,583.97 (-1.4%)
Ethereum ~ $3,509.96 (-2.0%)
Solana ~ $132.41 (-2.8%)
Polkadot ~ $5.69 (-3.7%)
Flow ~ $0.6394 (-1.7%)

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ZRO token falls 17% amid controversy over LayerZero’s ‘not an airdrop’

Cross-chain interoperability protocol LayerZero’s newly launched token LayerZero (ZRO) fell 17% since its launch amid controversy over its donation criterion for claiming tokens, which some have likened to a “tax.”

Some disagree with the criticism and think the mechanism could be a good step toward solving the issues plaguing recent token airdrops.

Upon its launch…

https://cryptoinsight.ae/zro-token-falls-17-amid-controversy-over-layerzeros-not-an-airdrop/

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Arbitrum daily revenue surges 16,500% after LayerZero’s ZRO launch

LayerZero’s token launch on June 20 caused a massive surge in fees on Arbitrum, leading to a record $3.43 million daily revenue for the blockchain, a bump of around 16,680% compared to ththe day prior.

LayerZero launched the ZRO token on Thursday but triggered criticism over its obligatory “donation” mechanism — which requires claimants to…

https://cryptoinsight.ae/arbitrum-daily-revenue-surges-16500-after-layerzeros-zro-launch/

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BNB Chain activates hard fork, reduces fees

BNB Chain activated its Haber hard fork which introduces BNB Evolution Proposal (BEP)-336 to optimize data storage and processing on the network.

On June 20, the blockchain network announced that it successfully activated the hard fork, claiming a 90% reduction in blockchain fees. BEP 336, which takes inspiration from the Ethereum Improvement Proposal (EIP)-4844, enables…

https://cryptoinsight.ae/bnb-chain-activates-hard-fork-reduces-fees/

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