crypto blog
Binance users support 0-fee trading despite CZ’s wash trading concerns
Both traditional and crypto investors consider trading fees as one of the most significant liabilities when it comes to investing over exchanges. So no wonder when Changpeng “CZ” Zhao, the founder and CEO of Binance, asked investors about their interest in trading on the crypto exchange with no fees, the response was a resounding yes despite the inherent risks pointed out by the entrepreneur. Binance stands as the biggest crypto exchange, outdoing its nearest competition FTX by 10x in terms of the trading volume. Zhao, known for implementing features based on community feedback, reached out over Twitter to gauge investor sentiment regarding the complete removal of trading fees. 0 fee trading @binance creates a few problems, wash trading, VIP tiers, etc. A thread Do you still want it? 1/4. ...
Binance users support 0-fee trading despite CZ’s wash trading concerns
Both traditional and crypto investors consider trading fees as one of the most significant liabilities when it comes to investing over exchanges. So no wonder when Changpeng “CZ” Zhao, the founder and CEO of Binance, asked investors about their interest in trading on the crypto exchange with no fees, the response was a resounding yes despite the inherent risks pointed out by the entrepreneur. Binance stands as the biggest crypto exchange, outdoing its nearest competition FTX by 10x in terms of the trading volume. Zhao, known for implementing features based on community feedback, reached out over Twitter to gauge investor sentiment regarding the complete removal of trading fees. 0 fee trading @binance creates a few problems, wash trading, VIP tiers, etc. A thread Do you still want it? 1/4. ...
What the dot-com bust can teach us about the crypto crash
The economist Benjamin Graham, known to some as the father of value investing, once compared the market to a voting machine in the short run and a weighing machine in the long run. While Graham likely would have been skeptical at best about crypto and its built-in volatility had he lived to see it, his economic theory nevertheless applies to certain aspects therein. Since the emergence of altcoins, the blockchain space has operated almost exclusively as a “voting machine.” Many projects have, by and large, been financially unsuccessful and even detrimental to investors and the space at large. They have, instead, turned crypto into a memelord popularity contest, and their success on that front can hardly be understated. Sometimes that competition is based on who promises the best future use...
What the dot-com bust can teach us about the crypto crash
The economist Benjamin Graham, known to some as the father of value investing, once compared the market to a voting machine in the short run and a weighing machine in the long run. While Graham likely would have been skeptical at best about crypto and its built-in volatility had he lived to see it, his economic theory nevertheless applies to certain aspects therein. Since the emergence of altcoins, the blockchain space has operated almost exclusively as a “voting machine.” Many projects have, by and large, been financially unsuccessful and even detrimental to investors and the space at large. They have, instead, turned crypto into a memelord popularity contest, and their success on that front can hardly be understated. Sometimes that competition is based on who promises the best future use...
Global GPU price drops to compensate for falling Bitcoin mining revenue
As a direct result of falling Bitcoin (BTC) prices, total revenue earned by miners in transaction fees and mining rewards dropped to its one-year lows at nearly $15 million on July 4. However, a concurrent fall in graphic cards or GPU prices is set to help miners offset their operational costs amid an ongoing bear market. Bitcoin mining revenue fell 79.6% over a period of 9 months, ever since reaching an all-time high of $74.4 million on Oct. 25, 2021. In addition, a global chip shortage and the coronavirus pandemic shot up prices of the most important part of a mining rig — the graphics processing unit (GPU) — further impacting the miners’ bottom line. Bitcoin mining revenue over the past year. Source: Blockchain.com With card manufacturers resuming operations across the world, GPU prices...
Global GPU price drops to compensate for falling Bitcoin mining revenue
As a direct result of falling Bitcoin (BTC) prices, total revenue earned by miners in transaction fees and mining rewards dropped to its one-year lows at nearly $15 million on July 4. However, a concurrent fall in graphic cards or GPU prices is set to help miners offset their operational costs amid an ongoing bear market. Bitcoin mining revenue fell 79.6% over a period of 9 months, ever since reaching an all-time high of $74.4 million on Oct. 25, 2021. In addition, a global chip shortage and the coronavirus pandemic shot up prices of the most important part of a mining rig — the graphics processing unit (GPU) — further impacting the miners’ bottom line. Bitcoin mining revenue over the past year. Source: Blockchain.com With card manufacturers resuming operations across the world, GPU prices...
Umetaworld Announces New Website and App Launch
Milan, Italy, 8th July, 2022, Chainwire Umetaworld, the first-ever social media metaverse, has announced the launch of its new website and mobile app. Both launches signal the metaverse open for users who can now interact with others as well as a digital landscape. The website will be going live in the second week of July 2022, and its app is slated to be released on July 16, 2022. There is a lot of talk about the metaverse these days and how people can use it. But a lot of this talk is limited to metaverses being used as gaming landscapes. Umetaworld is different in that it focuses on the metaverse as a purely social space. In Umetaworld, users can interact with each other using high-end avatars which are created with realistic renditions of their faces. By taking a selfie during the regi...
Delegated Proof of Stake Blockchain Accumulate (ACME) Releases Governance Documentation
Miami, USA / FL, 8th July, 2022, Chainwire Delegated Proof of Stake (DPoS) blockchain Accumulate has released its official governance documents. These detail the network’s constitution, its list of stakeholders, and the various rules and policies that govern both the protocol and the community. They also outline the primary role that the ACME token will play in the protocol’s development. At a high level, Accumulate combines traditional and novel approaches to blockchain governance in order to achieve optimal decentralized decision-making while maintaining a solid vision and clear direction for the community and ecosystem. Accumulate’s constitution is constructed on the belief that a space must be created where hundreds and even thousands of participants can participate in the validation o...
Revuto unveils Netflix and Spotify digital subscriptions via Revulution NFT
Revuto, a famous Croatian-based startup revolutionizing digital subscriptions, is launching a lifelong digital subscription to Spotify and Netflix services through the Revulution NFT. As of July 11, 10,000 interested users will have the opportunity of buying a limited edition NFT on Revuto’s official website. Commenting on the new innovation, the CEO and co-founder of Revuto, Vedran Vukman, said: “Based on the feedback we received from our 350,000 active and verified users, we have decided to give the community exactly what they have asked for – a solution that guarantees a stable subscription fee that they can share with their friends or family members in a simple and straightforward way. Moreover, in case they are not using the service, the users can simply get their money back or e...
Price analysis 7/4: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, LEO, SHIB
The crypto markets have remained relatively stable over the weekend and on July 4, which is a holiday for the United States financial markets due to Independence Day. Although Arthur Hayes, former CEO of derivatives platform BitMEX, was expecting a “mega crypto dump” around July 4, it has not materialized. The drop in Bitcoin’s (BTC) volatility in the past few days has resulted in the squeezing of the Bollinger Band’s width. This indicates a possible increase in volatility in the next few days, according to popular analyst Matthew Hyland. Daily cryptocurrency market performance. Source: Coin360 Meanwhile, crypto investors seem to be waiting for clues from the U.S. equities markets and the U.S. dollar. Bitcoin’s correlation coefficient with the dollar in the week ending July 3 slumped to 0....
Singapore’s financial watchdog considers further restrictions on crypto
The Monetary Authority of Singapore, or MAS, has been “carefully considering” adding restrictions that could affect how retail investors handle crypto, according to one of the government’s senior ministers. According to parliamentary records published on Monday, Singapore senior minister and MAS chair Tharman Shanmugaratnam said the financial watchdog may consider “placing limits on retail participation” for crypto investors as well as introducing rules on the use of leverage for crypto transactions. Shanmugaratnam also called for regulatory clarity among financial regulators around the world, “given the borderless nature of cryptocurrency markets.” In January, the MAS barred crypto service providers from advertising or marketing in public spaces, and was behind regulations to shut down cr...
Celsius pays down 143M in DAI loans since July 1
Celsius (CEL) has repaid a substantial amount of its outstanding debt to Maker (MKR) protocol since the beginning of the month, signaling that the troubled crypto lending platform was trying to stave off a complete collapse amid credible rumors of insolvency. Since July 1, Celsius has repaid $142.8 million worth of Dai (DAI) stablecoins across four separate transactions, according to data from DeFi Explorer. The crypto lender still has $82 million in outstanding debt owed to Maker. Out of $1.8 billion in lifetime investments, the firm’s losses currently stand at $667.2 million. With the loan repayments, Celsius’ liquidation price on its Wrapped Bitcoin (wBTC) loan has dropped to $4,966.99 Bitcoin (BTC). The liquidation price reportedly fell by nearly half since Celsius posted a...
