Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
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Ethereum Bug on Its Old Client Geth Leads to A Fork
Ethereum’s top software client, Geth, suffered an EVM bug attack affecting over half of its older nodes. This attack further led to a split on the chain, forming a fork. According to the report released on Go Ethereum GitHub on Tuesday, Geth v1.10.8 would be the hotfix to deal with the bug attack. As per statistics from Ethernodes, Geth runs approximately 75% of Ethereum nodes. The number makes up for at least 54% of Ethereum nodes affected by the EVM…
4 years ago
A Record $168M in BTC Flows into Exchanges as Profit-taking Continues
The recent excitement in the crypto market cooled off after BTC faced rejection at $50K on August 26. According to coinmarketcap, the price of bitcoin slid to as low as $46,457 on Thursday. However, bulls finally regrouped to halt any further losses. Will Clemente, the Lead Insights Analyst at blockwareteam, predicted that a rejection at $50K was coming. According to his analysis, Clement forecasts that some profit-taking would happen at that level. The young analyst explains that the whales caused…
4 years ago
Cardano’s New Crypto Partnership with Confirm Faces Major Criticism
Cardano Foundation's announcement of its partnership with Confirm, an analytics provider, raised a lot of scrutiny in recent times. Through the partnership, custodians, exchanges, and other third parties can track Cardano's native ADA crypto held in their wallets. Following the reveal, there have been major concerns circling the partnership by Weiss Crypto. What the Weiss Criticism Entailed Charles Hoskinson, the founder of Cardano, believes that partnering with Confirm will bring more adoption to the Cardano blockchain. After all, its purpose…
4 years ago
FBI Staff Gain Unauthorised Access to a Crypto Hacker’s Data Via Palantir Glitch
According to a new revelation by the New York Times, some FBI staff allegedly gained access to data owned by a crypto hacker. The FBI gained access to the sensitive data with the help of a glitch in the AI company Palantir. The company has ties with big government agencies like the CIA and the US Immigration Agency( ICE). Crypto Hacker Faces Charges The suspected hacker in question is none other than Virgil Griffith. He allegedly aided the North Korean…
4 years ago
ETH Price Declines as Crypto Markets Trace a Bearish Trend
Ethereum was on Thursday 26th, still on a bearish trend which marked its start on 23rd August. The current price actions of ETH could open for an even further price plunge or a possible reversal. Also, Ethereum's price patterns impacted top DeFi coins. Ethereum Price Analysis Ethereum, the second-largest crypto by market cap, was on Thursday, still on a bearish trend. According to coinmarketcap, ETH lost about 4.18% of its price in 24 hours between 25th and 26th of this…
4 years ago
Government Officials Can Help Drive Crypto Adoption Mainstream
Government officials may be the key to supporting cryptocurrency mainstream adoption in the long term. This year's wild fluctuations in crypto prices have alarmed investors, Wall Street, and even regulators are weary. Yet, the cryptocurrency space is still young, and a lot is yet to explore. Government officials should chip in to drive mainstream adoption of cryptocurrencies. It could, after all, be the currency of the future. Toning Down Crypto Regulation Cynthia Lummis, a government official, has stated some exciting…
4 years ago
Incoming Digital Identifiers’ Launch to Boost Crypto Mainstream Adoption
Digital token identifiers, or DTIs, will go live in September as the latest sign of the growing crypto market. The move will mark a massive milestone towards mainstream adoption of crypto. The most enthusiastic supporters of cryptos hope that technology will someday replace the U.S. dollar. Also, they believe it may become the primary way people pay for products and services. Yet, there are still very few options to use cryptocurrency to buy products in the real world. Registering with…
4 years ago
Microsoft Wins Patent For Developing Cross Blockchain Token Solutions
On 24th August 2021, Microsoft won a patent to develop a crypto token management system. The company recently made its deep interest in the crypto world public. The developments are big news for the crypto blockchain world. For example, once the tech giant will fully implement and adopt the blockchain, it should result in more crypto adoption. The Ledger Independent Token Service On Tuesday, USPTO, the US patent regulators, awarded Microsoft the patent filed in 2019. This patent allows Microsoft…
4 years ago
6% of BTC in Circulation Scooped by Asset Managers and Companies, Analysis Show
As recently recorded, Asset Managers and financial institutions currently hold approximately 6% of the total supply of BTC. As analysts speculate, 21M BTC will circle the finance world by 2140. 18M are presently in circulation. On May 22, 2010, slightly over a year after bitcoin had been coded into existence, Florida man Lazslo Hanyecz officially became the first person to use the digital currency in a commercial transaction. Hanyecz paid for a couple of pizzas worth about $30, with 10,000…
4 years ago