The company behind the development of Celo blockchain, cLabs, has suggested creating an Ethereum (ETH) Layer 2 (L2) chain using the Optimistic Rollup (OP) technology stack. This project signifies a major move towards improving the scalability and efficiency within the Ethereum network. cLabs Proposes L2 to Address Ethereum Community Needs The plan intends to utilize … Read more
In simple terms, there has been a significant surge in the cryptocurrency markets of the Middle East. The number of daily traders has increased by 166% compared to the previous year, based on a recent report from Bitget Research, the research division of prominent crypto exchange Bitget. Several reasons contribute to this increase in interest, … Read more
Recently, the cryptocurrency market has experienced heightened volatility, and Ethereum (ETH), the second largest crypto token by market value, has not escaped this trend. Consequently, predicting Ethereum’s future price movement has become more challenging due to these market swings. Nevertheless, some key indicators suggest potential directions for ETH’s price once the volatility settles down. Ethereum … Read more
The intense competition between Binance Holdings Ltd and Nigeria over supremacy in the cryptocurrency exchange market has resulted in noticeable effects on Nigerian exchange activities. Due to the depreciation of the Nigerian Naira, which is currently valued at approximately 1075 Naira for one US Dollar, the government has intensified its efforts to regulate unlicensed crypto … Read more
Over the past weekend, Shibarium, the main Layer-2 solution within the Shiba Inu community, experienced a brief network interruption that influenced its functionality. Notably, Kaal Dhairya, a well-known Shiba Inu developer, reported this issue and provided insights regarding the ongoing situation on X platform. Some validators on Shibarium, which are organizations responsible for verifying transactions … Read more
A local news source revealed that the Finnish Tax Authority has found out that certain individuals engaging in digital asset trading have failed to declare their crypto income tax for the year 2023. The undeclared taxes amounted to €30 million, equivalent to around $31.9 million. Finnish Authorities Demand Investors to Report Taxes Several crypto exchanges … Read more
The chances of Ethereum Spot ETFs being approved by the US Securities and Exchange Commission (SEC) before May are looking increasingly uncertain, causing concern in the cryptocurrency community as they wait for the SEC’s final decision. The anticipation over the SEC’s decision underscores the significance of gaining approval for Ethereum ETFs, as it would provide … Read more
At a campaign rally in Michigan in April 2021, Robert F. Kennedy Jr., also known as RFK Jr, the United States Presidential candidate, proposed an unconventional plan: if elected, he intends to put the entire US budget on the blockchain. This means that all federal financial transactions would be recorded and verified using this decentralized … Read more
Bitcoin supporters worldwide can relax now as Bitcoin, the leading cryptocurrency, recovers from a recent slump. Last week, Bitcoin, like the rest of the market, dropped below $60,000. This was mainly due to increased caution among investors, the US tax season approaching, and heightened tensions in the Middle East. But then, unexpectedly, Bitcoin bounced back … Read more
Last week, digital asset investment funds experienced withdrawals totaling $206 million as reported by CoinShares on April 22, 2024. This weekly outflow is a continuation of the previous week’s $126 million reduction, suggesting a possible change in institutional investor attitude. Photo: CoinShares Investment products experienced withdrawals, leading to a slight decrease in trading volume for … Read more