Crypto

Ethereum co-founder Vitalik Buterin has proposed a new limit on the total transaction calldata in a block to decrease the overall transaction calldata gas cost over the ETH network.  Buterin’s post on the Ethereum Magicians forum, EIP-4488, highlights concerns regarding high transaction fees on layer-one blockchains for rollups and the considerable amount of time to implement and deploy data sharding: “Hence, a short-term solution to further cut costs for rollups and to incentivize an ecosystem-wide transition to a rollup-centric Ethereum is desired.” While the entrepreneur cited an alternative wherein the gas costs parameters could be decreased without further adding a limit to the block size, he foresees a security concern in decreasing the calldata gas cost from 16 to 3: “[This] wo...

Bitcoin (BTC) has stabilized at around $55,000 after dropping by $6,000 in a single day — but crypto market sentiment is still in shock. According to the Crypto Fear & Greed Index as of Nov. 27, emotions are now at the most fearful since late September. Crypto sentiment dives into “extreme fear” Fear & Greed, which takes a basket of factors to compute a standardized sentiment score for crypto markets from 1-100, currently sits at 21. Friday took its toll on the metric, with the score more than halving in 24 hours from its previous position of 47. Those two readings correspond to sentiment going from “neutral” to “extreme fear” — missing out on the “fear” zone altogether. Crypto Fear & Greed Index. Source: Alternative.me While...

Welcome to the latest edition of Cointelegraph’s decentralized finance (DeFi) newsletter. Ether (ETH) is burning at a rapid rate. Read on to discover the statistics behind Ethereum’s pursuit of deflationary mechanics. What you’re about to read is a shorter, more succinct version of the newsletter. For a comprehensive summary of DeFi’s developments over the last week, subscribe below. $4.24 billion in ETH burned since EIP-1559 event Blockchain analytics platform CryptoRank shared quantitative data this week that revealed an excess of 1 million Ether, worth approximately $4.24 billion, has been burned since August’s implementation of the Ethereum Improvement Proposal 1559. Also referred to as the London hard fork, the event marked a significant evolution of Ethereum’s fee structure...

DappRadar, a popular platform that provides analytics and portfolio tracking for the decentralized application (DApp) and nonfungible token (NFT) markets, has announced an upcoming company restructuring to a decentralized business model, in addition to releasing a native governance token, RADAR. Founded in 2018, the site currently boasts over 4 million global users, 600,000 of which are uniquely active on a monthly basis, as well as playing host to over 8,300 DApps and 27 protocols. The news was announced during a metaverse event in Somnium Space on Thursday. The purpose behind the evolution is to expand DappRadar’s ecosystem to a global audience and establish itself as one of the world’s leading DApp stores.  DappRadar co-founder and CEO Skirmantas Januskas shared his per...

The Bank of Tanzania is reportedly planning to introduce a central bank digital currency, or CBDC, for the African nation after neighboring countries announced similar initiatives. According to a Friday Bloomberg report, Bank of Tanzania Governor Florens Luoga said on Thursday that Tanzania was planning to follow Nigeria’s example in rolling out its own CBDC. Luoga reportedly said that the central bank had “already begun preparations” for a digital shilling, Tanzania’s currency since 1966. In preparing to launch a CBDC, the governor said Tanzania is also planning to expand research into digital currencies and strengthen the capacity of central bank officials. If successful, Tanzania would be among a select group of countries currently exploring a rollout of a CBDC. Many industry experts ar...

A group of five Democratic senators has reportedly rejected President Joe Biden’s nominee, Saule Omarova, to head the Office of the Comptroller of the Currency (OCC).  Omarova’s nomination as a bank regulator was initially opposed by three members of the Senate Banking Committee — Senators Jon Tester, Mark Warner, and Kyrsten Sinema — on a phone call with panel chairman Sen. Sherrod Brown, as reported by Axios. The opposition was further supported by Senators John Hickenlooper and Mark Kelly. Omarova is known for anti-crypto sentiments who has previously worked as Special Advisor for Regulatory Policy to the Under Secretary, Domestic Finance. As a result of the opposition from five Democrats and all Republicans, the White House nominee requires every other Democratic candidate to vote...

Bitcoin (BTC) and most major altcoins sold off along with global equity markets and crude oil on Nov. 26. The markets were roiled on news of a new coronavirus variant detected in South Africa that is worrying scientists due to its large number of mutations in the spike protein. The sharp fall has resulted in cross-crypto liquidations of over $750 million over the 24-hour period but the funding rates across exchanges remain elevated. This suggests that the selling may not be over yet. Daily cryptocurrency market performance. Source: Coin360 Bitcoin’s monthly close for November is most likely not going to hit analyst PlanB’s worst-case scenario of $98,000. This will be the first miss after the model had accurately predicted the end-of-month price levels for August, September and October. How...

Salvadoran President Nayib Bukele bought the dip again, investing more than $5 million into Bitcoin as the price dropped under $54,000 Friday. In a Friday tweet, El Salvador’s president said he had purchased 100 Bitcoin (BTC) following a global market sell-off in response to a new COVID-19 variant discovered in South Africa. According to data from Cointelegraph Markets Pro, since reaching an all-time price of $69,000 on Nov. 10, Bitcoin has fallen more than 20% to reach $54,343 at the time of publication, an 8% drop in less than 24 hours. El Salvador just bought the dip. 100 extra coins acquired with a discount #Bitcoin  — Nayib Bukele (@nayibbukele) November 26, 2021 Bukele first announced El Salvador would be making a major BTC purchase on the eve of the country’s Bitcoin Law ...

Crypto exchange Deribit is the absolute leader in the Bitcoin (BTC) options markets, and on Nov. 24, the 25% delta skew indicator signaled that sentiment among pro traders was becoming “more bearish overall.” We’ve seen 25-Delta put skew moved from around 0% to almost 10-15% pending time to expiry since beginning of Nov implying a more bearish overall sentiment. Premiums for downward protection are getting more expensive.In the short term, this expiry has a Max pain of $58k. https://t.co/jhpT1riX3g — Deribit (@DeribitExchange) November 24, 2021 Bitcoin price appears to following a descending channel since Nov. 9, so a “bearish” signal might be a reflection of the 22% drop since the $69,000 all-time high. Bitcoin/USD price on Bitstamp. Source: TradingView The 25% delta skew compares c...

Founded in 2017, OKEx is a centralized cryptocurrency exchange based in Seychelles. According to CoinGecko, OKEx is the world’s third-largest cryptocurrency brokerage, with nearly $12 billion in trading volume within the past 24 hours. The exchange lists 312 coins and 518 cryptocurrency trading pairs. It’s often difficult for new cryptocurrency enthusiasts to navigate the complex world of trading and finance. OKEx seeks to bring such sophisticated trading methods to everyday users’ disposal by providing a simple interface. During an exclusive ask me anything (AMA) session with Cointelegraph Markets Pro Users, OKEx staff discussed trading tools, financial regulation, the OKExChain (OEC) blockchain, meme coins, and DeFi offerings on the OKEx platform. Cointelegraph Markets ...