In A Nutshell During the BIS Innovation Summit on May 7, Umar Farooq, CEO of Onyx, a blockchain-based payment platform developed by JPMorgan, shared insights on the application of public blockchain ledgers in large-scale transactions. Farooq expressed concerns over their current suitability for handling significant transactions due to accountability issues. Despite this skepticism, the trend…
In A Nutshell Ethereum (ETH) has recently witnessed a significant increase in both its price and the number of new addresses, pushing the cryptocurrency above the $3,000 mark. This growth has sparked interest and speculation about the future movements of ETH. Despite the rise in new addresses, which reached a peak not seen since October…
In A Nutshell Polygon (MATIC) has been maintaining a critical price level, with its fate in May hinging on the actions of 31,000 addresses that bought 216.94 million tokens at $0.73. With the current scenario, the possibility of MATIC ascending towards $0.83 or descending to $0.61 exists, influenced by both internal dynamics and its correlation…
In A Nutshell A recent report co-developed by Visa and Allium Labs, and highlighted by Bloomberg, reveals a striking insight into the stablecoin transaction volume. The findings indicate that less than 10% of stablecoin transactions in April, totaling around $149 billion of the approximate $2.2 trillion, were conducted by real users. This analysis aimed to…
In A Nutshell The cryptocurrency market is no stranger to volatility, and Dogecoin (DOGE), the world’s most popular memecoin, has recently exemplified this with a 30% drop in value. However, analysts are viewing this correction not with alarm but as a harbinger of a potential bull run, drawing parallels to DOGE’s historical price movements before…
In A Nutshell Binance Wallet has expanded its functionality to now include support for Bitcoin Atomical ARC-20 assets, embracing a new era for Bitcoin’s utilization on its platform. The integration, facilitated through the Inscriptions Marketplace, not only enriches the Bitcoin ecosystem but also introduces a zero-fee trading incentive for ARC-20 tokens, valid until June 2024….
In A Nutshell The Stacks network, a leading Bitcoin layer-2 (L2) solution, has reached a new milestone with a record number of 122,497 active accounts reported in April. This surge is attributed to the burgeoning interest in Bitcoin-native decentralized finance (DeFi), also known as BTCFi, following the recent 2024 Bitcoin halving and the introduction of…
In A Nutshell Decentralized blockchain infrastructure provider Ankr is set to revolutionize the AI blockchain space by introducing Bitcoin (BTC) liquid staking tokens (LSTs) to the Talus blockchain, effective May 1. This integration will enable the creation of Bitcoin LSTs that can be utilized to fuel the operations of smart agents or AI assistants embedded…
In A Nutshell Despite a significant drop in revenue following the Bitcoin halving event in April, Bitcoin miners are showing resilience. CryptoQuant CEO Ki Young Ju points out that there is no apparent signs of miner capitulation, a scenario where miners sell off their holdings due to unprofitability, despite facing reduced profits. This determination comes…
In A Nutshell Understanding the fate of lost Bitcoin is crucial in the digital currency world. Bitcoin, a decentralized digital currency, becomes “lost” when its owners cannot access or control it due to various reasons such as private key compromise, user error, or malicious activities. With a maximum supply of 21 million BTC, the loss…