crypto blog
Argent’s L2 wallet could bring gas fees as low as $1 on Ethereum
Argent aims at 95% better carbon emission efficiency Its layer two wallet will eliminate seed phrases for its non-custodial wallet Argent, an Ethereum wallet that broke into the scene in 2018, is launching a layer two version. It aims to reduce the cost (in gas transaction fees) incurred when completing transactions on the mainnet and improve environmental sustainability. According to Argent’s CEO Itamar Lesuisse, Argent will provide fees as low as $1 and also cut carbon emissions by up to 95% in order to remedy the current state, which he described as “expensive, slow and less secure.” Having chosen zkSync as the preferred layer two on which it built its wallet, Argent said in a statement sent out today that more than 500,000 users have joined the waitlist to use the wal...
Adobe’s Behance announces support for Phantom Wallet
Today, Adobe’s Behance has announced support for Phantom Wallet to allow people to showcase Solana-based NFTs on their profile, in addition to NFTs minted on Ethereum. Starting today, Behance users can connect their Phantom wallet and showcase Solana-based NFTs on their Behance profiles. The move resonates perfectly with Behance’s mission to help creators to build their careers without being dictated by third parties. Behance is built for freelancers, full-time gig sellers, those looking for subscriptions, those who want to sell templates, and those who want to live stream as well as those who want to sell NFTs. Before today’s announcement, Behance users were only able to showcase NFTs minted on Ethereum. But there have been concerns about the amount of Energy used by Ethereum in add...
Here’s why Cathie Wood is unfazed on bullish projection despite recent tech sector-wide sell-offs
The ARK Invest CEO expects to see spectacular returns over the next five years She told CNBC in an interview that many of her investors are averaging down on investments In a recent interview with CNBC, the founder and CEO of ARK Investment Management, Cathie Wood, has defended her firm’s innovation-focused arm despite recent market plunges. Wood, who featured in our list of top 25 influential women in the crypto sector, said that she expects the Ark Innovation ETF to see spectacular returns over the next five years. “Given our expectations for growth in these new technologies, I think we’re going to see some spectacular returns,” she told CNBC. Ark Invest’s innovation portfolio has plunged by nearly 50% as it has been one of the major victims of massive ...
FTX expands to Europe with CySEC approval
The global crypto derivatives and spot trading exchange FTX is expanding to Europe after receiving approval from the Cyprus Securities and Exchange Commission (CySEC). The new venture called FTX Europe would offer leading products of the company to the European clients via a licensed investment firm across the European economic area. The new European venture is headquartered in Switzerland along with a regional headquarters in Cyprus. Cyprus is seen as one of the reputed jurisdictions that offers a regulated medium for financial firms to access the European economic area. Thus, FTX would be able to offer its derivative crypto products as well, which is a big breakthrough, given Binance had to shut all crypto derivatives products last year across Europe. Sam Bankman Fried said their new ven...
Income generation on DeFi, explained
Modern tools can improve the earning process by diversifying asset exposure and empowering AI for quicker reaction times. Although DeFi returns appear promising, investors must continue to air on the side of caution and remember even in DeFi, “get-rich-quick” schemes do not exist. Instead, a minimum level of awareness on topics such as how the blockchain works and what an automated market maker (AMMs) is are necessary for users to deploy passive income generation methods. Furthermore, early DeFi projects required users to be highly experienced while having adequate capital at their disposal. SingularityDAO is one of the few platforms that generate yield by trading cryptocurrency assets through an AI-powered DeFi portfolio, giving users access to a diverse range of crypt...
Bitcoin steadies as gold hits $2K, US dollar strongest since May 2020
Bitcoin (BTC) stayed near one-week lows on March 7 as a flight to safety among investors did crypto markets no favors. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Gold, dollar spell sour times for stocks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing at around $37,600 overnight before tracking around $1,000 higher. The pair had faced pressure into the weekly close, resulting in its lowest levels this month amid reports that Western sanctions against Russia could expand to include an oil embargo. An already panicky atmosphere thus fueled performance by safe haven gold, which returned to $2,000 per ounce for the first time since August 2020 Monday. XAU/USD 1-week candle chart. Source: TradingView Coming in step was the U.S. dollar, which surg...
3 reasons why Bitcoin can rally back to $60K despite erasing last week’s gains
Bitcoin (BTC) plunged to below $38,000 on Monday, giving up all the gains it had made last week, which saw BTC/USD rally over $45,000. BTC back below $40K as oil soars The losses appeared primarily in part due to selloffs across the risk-on markets, led by the 18% rise in international oil benchmark Brent crude to almost $139 per barrel early Monday, its highest level since 2008. Nonetheless, Bitcoin’s inability to offer a hedge against the ongoing market volatility also raised doubts over its “safe haven” status, with its correlation coefficient with Nasdaq Composite reaching 0.87 on Monday. BTC/USD weekly price chart featuring its correlation with Nasdaq and Gold. Source: TradingView Conversely, Bitcoin’s correlation with its top rival gold came to be minus 0...
Bitcoin’s recent correction below $40k conforms to a previously bullish triangle pattern, crypto analyst notes
A top crypto analyst has set forth that Bitcoin’s rejection at $45k indicates the asset is now in a triangle trading pattern Credible Crypto also explained that it is unlikely Bitcoin will plunge below $30k as it recently grew above $44,700 Popular crypto markets analyst Credible Crypto has predicted that Bitcoin’s recent rejection at $45k and correction downwards below $40k indicates that the asset is preparing for a surge towards $50k in the coming weeks. In a post shared to his 313k-large Twitter following, the pseudonymous crypto strategist said that following its recent rejection at $45,069, the asset is now fitting into a triangle structure, similar to the one it showed when the price was at $10k. He explained that should the daily demand hold at $38k, then Bitcoin could comple...
FTX exchange looking to start operations in the European market
The crypto exchange has disclosed it has established a European division The exchange’s founder Sam Bankman-Fried has previously talked about expansion and acquisition plans Sam Bankman-Fried’s FTX has today announced a major milestone in its venture to explore new markets. The cryptocurrency exchange revealed today it has set up a Switzerland unit befittingly named FTX Europe that will be focused on serving users from Europe and the Middle East. The new unit has an additional base in Cyprus where it is licensed by the local watchdog CySEC according to the exchange’s press release. An FTX.US equivalent operating in Europe FTX previously set up a unit, FTX.US, that solely operates in the United States – a market that is widely considered stricter. The Switzerland-based unit, which comes two...
Coinbase acts to ensure compliance with sanctions against Russia
Crypto exchange Coinbase says it has blocked over 25k Russian addresses linked to illicit dealings The exchange has submitted the idea of using crypto tech over traditional fiat to ensure sanctions compliance In an official blog post published today, the largest crypto exchange in the US, Coinbase, has voiced its support for the range of sanctions placed against Russia. The exchange insisted that sanctions play a critical role in national security and dissuading unlawful aggression. In the post, the exchange’s chief legal officer Paul Grewal acknowledged that while Coinbase’s compliance program might not be perfect, it is doing its bit in helping ensure compliance to imposed financial and economic penalties. He explained that via its multi-layered, global sanctions program, Coinbase is abl...
DeFi ‘Godfather’ Cronje quits as TVL and tokens tank for related projects
DeFi architect, Fantom Foundation technical advisor, and Yearn Finance founder Andre Cronje has left the decentralized finance (DeFi) space reeling after deactivating his Twitter account. Cronje’s long-time colleague at the Fantom Foundation Anton Nell stated in a Mar. 6 tweet that both he and Cronje were leaving the crypto space entirely. However, concerns have arisen about the fate of the roughly 25 decentralized apps (dApps) and services they have been operating up to now. Fantom Opera is a layer-2 Ethereum scaling solution. Andre and I have decided that we are closing the chapter of contibuting to the defi/crypto space.There are around ~25 apps and services that we are terminating on 03 April 2022. 1/3 — Anton Nell (@AntonNellCrypto) March 6, 2022 Among the affected apps and services a...
KyberSwap DEX launches on layer-two network Arbitrum
Decentralized exchange (DEX) aggregator KyberSwap has launched on the layer-two Ethereum scaling solution Arbitrum network. The move puts Kyberswap on its seventh network or scaling solution along with Ethereum (ETH), Polygon (MATIC), Fantom (FTM), BSC (BNB), Avalanche (AVAX), and Cronos (CRONOS). KyberSwap joins SwaprEth, Balancer Labs, Curve Finance, and SushiSwap as the DEXes available on Arbitrum as of the time of writing. KyberSwap DEX Aggregator Launches Integration with L2 Scaling Solution @OffchainLabs #Arbitrum NetworkTrade tokens on #KyberSwap at faster speeds and with lower costs, with the best rates! Trade and earn now: https://t.co/Yl4MTlr0di Learn more: https://t.co/ksSu1YjQkt pic.twitter.com/sUI00hnsk5 — Kyber Network (@KyberNetwork) March 7, 2022 The KyberSwap team points t...
