SUI blockchain explained: Is it the future of decentralized networks?
What is the Sui network?
The Sui network is a novel blockchain platform designed to tackle industry challenges such as scalability, speed and cost.
Launched in May 2023 by Mysten Labs, a company founded by former Meta engineers involved in Facebook’s Diem project (formerly known as Libra), Sui was built to deliver a decentralized solution…
https://cryptoinsight.ae/sui-blockchain-explained-is-it-the-future-of-decentralized-networks/
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What is the Sui network?
The Sui network is a novel blockchain platform designed to tackle industry challenges such as scalability, speed and cost.
Launched in May 2023 by Mysten Labs, a company founded by former Meta engineers involved in Facebook’s Diem project (formerly known as Libra), Sui was built to deliver a decentralized solution…
https://cryptoinsight.ae/sui-blockchain-explained-is-it-the-future-of-decentralized-networks/
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $2.26 Trillion, a 0.3% change in the last 24 hours
Bitcoin ~ $62,110.94 (1.4%)
Ethereum ~ $2,416.28 (1.4%)
Solana ~ $143.35 (2.9%)
Polkadot ~ $4.19 (0.6%)
Flow ~ $0.5459 (1.9%)
Follow and subscribe - @GulfCryptoInsight
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Day started from:
The global cryptocurrency market cap today is $2.26 Trillion, a 0.3% change in the last 24 hours
Bitcoin ~ $62,110.94 (1.4%)
Ethereum ~ $2,416.28 (1.4%)
Solana ~ $143.35 (2.9%)
Polkadot ~ $4.19 (0.6%)
Flow ~ $0.5459 (1.9%)
Follow and subscribe - @GulfCryptoInsight
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Ethereum inflation rises, threatens ‘ultrasound money’ status: Report
Ethereum’s inflation rate has surged to 0.74%, raising concerns about its long-held “ultrasound money” narrative, according to Binance’s October 2024 Monthly Market Insights report.
The research report indicated that the Ether issuance rate is at its highest level in two years, as reduced onchain activity and lower burn rates shift the asset’s economic status.
The…
https://cryptoinsight.ae/ethereum-inflation-rises-threatens-ultrasound-money-status-report/
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Ethereum’s inflation rate has surged to 0.74%, raising concerns about its long-held “ultrasound money” narrative, according to Binance’s October 2024 Monthly Market Insights report.
The research report indicated that the Ether issuance rate is at its highest level in two years, as reduced onchain activity and lower burn rates shift the asset’s economic status.
The…
https://cryptoinsight.ae/ethereum-inflation-rises-threatens-ultrasound-money-status-report/
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Coinbase to delist noncompliant stablecoins under EU MiCA rules
The European Union’s Markets in Crypto-Assets Regulation (MiCA) is enforcing stricter oversight of crypto-related firms, and cryptocurrency exchange Coinbase is the latest to update its offerings.
On Oct. 4, Bloomberg reported that Coinbase will delist stablecoins that don’t comply with EU regulations by the end of 2024. This move aligns with the full implementation of…
https://cryptoinsight.ae/coinbase-to-delist-noncompliant-stablecoins-under-eu-mica-rules/
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The European Union’s Markets in Crypto-Assets Regulation (MiCA) is enforcing stricter oversight of crypto-related firms, and cryptocurrency exchange Coinbase is the latest to update its offerings.
On Oct. 4, Bloomberg reported that Coinbase will delist stablecoins that don’t comply with EU regulations by the end of 2024. This move aligns with the full implementation of…
https://cryptoinsight.ae/coinbase-to-delist-noncompliant-stablecoins-under-eu-mica-rules/
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‘Monolithic’ blockchains outperformed in September — VanEck
Monolithic blockchains — networks that combine different layers into a single, unified architecture — outperformed in September, according to VanEck’s latest “Crypto Monthly Recap.”
The report cited Solana, Sui and Aptos price gains of 14%, 118% and 23%, respectively.
Sui’s performance was attributed to a 140% gain in daily active addresses during September, resulting in…
https://cryptoinsight.ae/monolithic-blockchains-outperformed-in-september-vaneck/
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Monolithic blockchains — networks that combine different layers into a single, unified architecture — outperformed in September, according to VanEck’s latest “Crypto Monthly Recap.”
The report cited Solana, Sui and Aptos price gains of 14%, 118% and 23%, respectively.
Sui’s performance was attributed to a 140% gain in daily active addresses during September, resulting in…
https://cryptoinsight.ae/monolithic-blockchains-outperformed-in-september-vaneck/
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Hello there!
Day started from:
The global cryptocurrency market cap today is $2.25 Trillion, a -1.5% change in the last 24 hours
Bitcoin ~ $62,008.31 (-0.2%)
Ethereum ~ $2,420.37 (0.1%)
Solana ~ $143.04 (-0.3%)
Polkadot ~ $4.13 (-1.4%)
Flow ~ $0.5479 (0.4%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $2.25 Trillion, a -1.5% change in the last 24 hours
Bitcoin ~ $62,008.31 (-0.2%)
Ethereum ~ $2,420.37 (0.1%)
Solana ~ $143.04 (-0.3%)
Polkadot ~ $4.13 (-1.4%)
Flow ~ $0.5479 (0.4%)
Follow and subscribe - @GulfCryptoInsight
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EigenLayer says $5.7M hack ‘isolated’ incident, no vulnerability on protocol
Ethereum restaking protocol EigenLayer assured the community that its protocol has no vulnerabilities after an incident where almost $6 million in tokens were stolen from an investor.
On Oct. 4, the EigenLayer team said it was investigating an “unapproved selling activity” concerning a wallet ending in “f10D.” The wallet address sold about 1.6 million of…
https://cryptoinsight.ae/eigenlayer-says-5-7m-hack-isolated-incident-no-vulnerability-on-protocol/
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Ethereum restaking protocol EigenLayer assured the community that its protocol has no vulnerabilities after an incident where almost $6 million in tokens were stolen from an investor.
On Oct. 4, the EigenLayer team said it was investigating an “unapproved selling activity” concerning a wallet ending in “f10D.” The wallet address sold about 1.6 million of…
https://cryptoinsight.ae/eigenlayer-says-5-7m-hack-isolated-incident-no-vulnerability-on-protocol/
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $2.31 Trillion, a 1.5% change in the last 24 hours
Bitcoin ~ $63,536.97 (2.5%)
Ethereum ~ $2,488.03 (2.8%)
Solana ~ $149.18 (4.3%)
Polkadot ~ $4.24 (2.8%)
Flow ~ $0.5558 (1.5%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $2.31 Trillion, a 1.5% change in the last 24 hours
Bitcoin ~ $63,536.97 (2.5%)
Ethereum ~ $2,488.03 (2.8%)
Solana ~ $149.18 (4.3%)
Polkadot ~ $4.24 (2.8%)
Flow ~ $0.5558 (1.5%)
Follow and subscribe - @GulfCryptoInsight
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UAE exempts crypto transfers, conversion from value-added tax
Amendments to value-added tax (VAT) regulations in the United Arab Emirates will exempt transfers and conversions of digital assets, including crypto.
On Oct. 2, the UAE’s Federal Tax Authority (FTA) published amendments to the country’s VAT rules. According to business consultancy company PwC, the new rules include VAT exemptions for additional services, including managing investment…
https://cryptoinsight.ae/uae-exempts-crypto-transfers-conversion-from-value-added-tax/
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Amendments to value-added tax (VAT) regulations in the United Arab Emirates will exempt transfers and conversions of digital assets, including crypto.
On Oct. 2, the UAE’s Federal Tax Authority (FTA) published amendments to the country’s VAT rules. According to business consultancy company PwC, the new rules include VAT exemptions for additional services, including managing investment…
https://cryptoinsight.ae/uae-exempts-crypto-transfers-conversion-from-value-added-tax/
Website | Twitter | LinkedIn | Telegram
New Ethereum proposal aims to increase throughput by 50%
A new Ethereum Improvement Proposal (EIP) would slash block times on Ethereum by 33% and increase data capacity — increasing overall throughput by 50%, developers claim.
Introduced on Oct. 5 by Illyriad Games co-founder Ben Adams, EIP-7781 aims to slash block times on the Ethereum network to eight seconds from 12 seconds, increase the latency…
https://cryptoinsight.ae/new-ethereum-proposal-aims-to-increase-throughput-by-50/
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A new Ethereum Improvement Proposal (EIP) would slash block times on Ethereum by 33% and increase data capacity — increasing overall throughput by 50%, developers claim.
Introduced on Oct. 5 by Illyriad Games co-founder Ben Adams, EIP-7781 aims to slash block times on the Ethereum network to eight seconds from 12 seconds, increase the latency…
https://cryptoinsight.ae/new-ethereum-proposal-aims-to-increase-throughput-by-50/
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What is a rug pull in crypto and 6 ways to spot it?
What is a rug pull in cryptocurrency?
A rug pull scam happens when a team or developer withdraws support for a project, leaving investors with worthless tokens.
Imagine you’re at a party where you come across an awesome game. Players are enjoying themselves, and there are large rewards for them to win. You decide to…
https://cryptoinsight.ae/what-is-a-rug-pull-in-crypto-and-6-ways-to-spot-it/
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What is a rug pull in cryptocurrency?
A rug pull scam happens when a team or developer withdraws support for a project, leaving investors with worthless tokens.
Imagine you’re at a party where you come across an awesome game. Players are enjoying themselves, and there are large rewards for them to win. You decide to…
https://cryptoinsight.ae/what-is-a-rug-pull-in-crypto-and-6-ways-to-spot-it/
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $2.26 Trillion, a -3.2% change in the last 24 hours
Bitcoin ~ $62,268.23 (-2.0%)
Ethereum ~ $2,418.65 (-2.8%)
Solana ~ $142.90 (-4.2%)
Polkadot ~ $4.12 (-3.0%)
Flow ~ $0.5332 (-4.1%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $2.26 Trillion, a -3.2% change in the last 24 hours
Bitcoin ~ $62,268.23 (-2.0%)
Ethereum ~ $2,418.65 (-2.8%)
Solana ~ $142.90 (-4.2%)
Polkadot ~ $4.12 (-3.0%)
Flow ~ $0.5332 (-4.1%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
National Bank of Bahrain rolls out its first Bitcoin investment fund
The National Bank of Bahrain has announced the launch of its first Bitcoin investment fund, designed for institutional investors in the Middle East’s Gulf Cooperation Council, formed by Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).
According to local media reports, the fund was developed in partnership with digital asset firm…
https://cryptoinsight.ae/national-bank-of-bahrain-rolls-out-its-first-bitcoin-investment-fund/
Website | Twitter | LinkedIn | Telegram
The National Bank of Bahrain has announced the launch of its first Bitcoin investment fund, designed for institutional investors in the Middle East’s Gulf Cooperation Council, formed by Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).
According to local media reports, the fund was developed in partnership with digital asset firm…
https://cryptoinsight.ae/national-bank-of-bahrain-rolls-out-its-first-bitcoin-investment-fund/
Website | Twitter | LinkedIn | Telegram
EigenLayer eyes consumer adoption post EIGEN unlock, founder says
EigenLayer is prioritizing onboarding consumer Web3 applications after the Oct. 1 unlock of the restaking protocol’s native token, EIGEN, founder Sreeram Kannan told Cointelegraph in an interview.
EigenLayer will initially target apps in crypto-native segments such as decentralized finance (DeFi) and gaming before expanding beyond Web3, Kannan said.
“We’re starting with the inside-out approach, focusing…
https://cryptoinsight.ae/eigenlayer-eyes-consumer-adoption-post-eigen-unlock-founder-says/
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EigenLayer is prioritizing onboarding consumer Web3 applications after the Oct. 1 unlock of the restaking protocol’s native token, EIGEN, founder Sreeram Kannan told Cointelegraph in an interview.
EigenLayer will initially target apps in crypto-native segments such as decentralized finance (DeFi) and gaming before expanding beyond Web3, Kannan said.
“We’re starting with the inside-out approach, focusing…
https://cryptoinsight.ae/eigenlayer-eyes-consumer-adoption-post-eigen-unlock-founder-says/
Website | Twitter | LinkedIn | Telegram
WEF backs ‘Sandbox-first approach’ for DeFi adoption
The World Economic Forum (WEF) urged policymakers and regulators worldwide to conduct decentralized finance (DeFi)-related innovations and experiments within regulatory sandboxes, focusing on tailored risk mitigation and transparency.
In its recent assessment of nine major economies, including the United States, the United Kingdom, Japan and the United Arab Emirates, the WEF identified the need for…
https://cryptoinsight.ae/wef-backs-sandbox-first-approach-for-defi-adoption/
Website | Twitter | LinkedIn | Telegram
The World Economic Forum (WEF) urged policymakers and regulators worldwide to conduct decentralized finance (DeFi)-related innovations and experiments within regulatory sandboxes, focusing on tailored risk mitigation and transparency.
In its recent assessment of nine major economies, including the United States, the United Kingdom, Japan and the United Arab Emirates, the WEF identified the need for…
https://cryptoinsight.ae/wef-backs-sandbox-first-approach-for-defi-adoption/
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $2.28 Trillion, a -0.9% change in the last 24 hours
Bitcoin ~ $62,477.90 (0.4%)
Ethereum ~ $2,448.28 (1.3%)
Solana ~ $143.84 (0.7%)
Polkadot ~ $4.13 (0.3%)
Flow ~ $0.537 (0.7%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $2.28 Trillion, a -0.9% change in the last 24 hours
Bitcoin ~ $62,477.90 (0.4%)
Ethereum ~ $2,448.28 (1.3%)
Solana ~ $143.84 (0.7%)
Polkadot ~ $4.13 (0.3%)
Flow ~ $0.537 (0.7%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Crypto.com sues SEC to ‘protect the future of crypto’ in US
Major cryptocurrency exchange and service provider Crypto.com is launching a legal battle against the United States Securities and Exchange Commission with the goal of protecting the future of the crypto industry in the country.
Kris Marszalek, co-founder and CEO of Crypto.com, took to X on Oct. 8 to officially announce that the company has filed…
https://cryptoinsight.ae/crypto-com-sues-sec-to-protect-the-future-of-crypto-in-us/
Website | Twitter | LinkedIn | Telegram
Major cryptocurrency exchange and service provider Crypto.com is launching a legal battle against the United States Securities and Exchange Commission with the goal of protecting the future of the crypto industry in the country.
Kris Marszalek, co-founder and CEO of Crypto.com, took to X on Oct. 8 to officially announce that the company has filed…
https://cryptoinsight.ae/crypto-com-sues-sec-to-protect-the-future-of-crypto-in-us/
Website | Twitter | LinkedIn | Telegram
Samsung Pay adds crypto payment option with Alchemy Pay integration
Another cryptocurrency payment method is coming to Samsung Pay, with Alchemy Pay integrating its virtual cards with Samsung’s contactless payment tool.
Alchemy Pay — a major crypto payment provider with more than one million registered users — has updated its virtual card service with a new Samsung Pay integration on one of its virtual cards.…
https://cryptoinsight.ae/samsung-pay-adds-crypto-payment-option-with-alchemy-pay-integration/
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Another cryptocurrency payment method is coming to Samsung Pay, with Alchemy Pay integrating its virtual cards with Samsung’s contactless payment tool.
Alchemy Pay — a major crypto payment provider with more than one million registered users — has updated its virtual card service with a new Samsung Pay integration on one of its virtual cards.…
https://cryptoinsight.ae/samsung-pay-adds-crypto-payment-option-with-alchemy-pay-integration/
Website | Twitter | LinkedIn | Telegram
South Korea plans to regulate cross-border stablecoin transactions
South Korea’s government plans to apply foreign exchange rules to cross-border transactions involving dollar-pegged stablecoins.
On Oct. 8, the country’s Ministry of Economy and Finance reportedly announced that it was reviewing measures to ensure the soundness of stablecoin transactions.
The government agency said that apart from being used to transact and exchange within the crypto…
https://cryptoinsight.ae/south-korea-plans-to-regulate-cross-border-stablecoin-transactions/
Website | Twitter | LinkedIn | Telegram
South Korea’s government plans to apply foreign exchange rules to cross-border transactions involving dollar-pegged stablecoins.
On Oct. 8, the country’s Ministry of Economy and Finance reportedly announced that it was reviewing measures to ensure the soundness of stablecoin transactions.
The government agency said that apart from being used to transact and exchange within the crypto…
https://cryptoinsight.ae/south-korea-plans-to-regulate-cross-border-stablecoin-transactions/
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $2.23 Trillion, a -3.3% change in the last 24 hours
Bitcoin ~ $60,942.56 (-2.5%)
Ethereum ~ $2,400.59 (-1.9%)
Solana ~ $140.26 (-2.5%)
Polkadot ~ $4.06 (-1.7%)
Flow ~ $0.5286 (-1.6%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $2.23 Trillion, a -3.3% change in the last 24 hours
Bitcoin ~ $60,942.56 (-2.5%)
Ethereum ~ $2,400.59 (-1.9%)
Solana ~ $140.26 (-2.5%)
Polkadot ~ $4.06 (-1.7%)
Flow ~ $0.5286 (-1.6%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram