The latest report by Flipside revealed that Ethereum and its Layer 2 scaling solution, Polygon, have attracted the most new users in the first quarter of 2024. These two blockchain platforms have seen a significant increase in cumulative new users among observed EVM chains since the beginning of the year. Ethereum boasted 13.4 million new
Crypto
The Bitcoin halving is a significant event that occurs approximately every four years. It is designed to slow down the production of new BTC, ensuring that the last Bitcoin will be mined over a hundred years from now. With over 19.6 million Bitcoins already in existence, the reduction in production speed coupled with stable or
Ethena Labs, the creators of USDe, have recently announced the incorporation of Bitcoin (BTC) as backing into their synthetic dollar-pegged offering. This strategic move aims to scale USDe’s supply from its current $2 billion mark. The team at Ethena Labs emphasized BTC’s role in enhancing USDe’s scalability, pointing out its expanding open interest in major
The recent correction in the cryptocurrency market has seen Bitcoin (BTC) experiencing a 6% decline over the past week. This drop has been attributed to profit-taking by long-term holders, with many investors cashing out as the price exceeded $73,000. Despite this downward trend, there remains a strong bullish sentiment among the majority of the crypto
The recent report from industry analytics provider Glassnode revealed an interesting trend in the Bitcoin market. Long-term holders have been seen distributing BTC and selling to new investors at higher prices. This not only represents a shift in investor behavior but also signifies an injection of new capital into the asset class. The realized cap,
March proved to be an incredibly profitable month for the Bitcoin mining industry, with miners collectively earning over $2 billion for securing the leading crypto network. This translates to an average of $65.23 million per day over the 30 days ending March 31, according to data from Blockchain.com. These figures represent a significant increase from
The report by blockchain security firm PeckShield for March 2024 has revealed a troubling increase in crypto hacks, with over 30 incidents causing losses of approximately $187.29 million. Despite the improved investor sentiment, these hacks have significantly impacted the DeFi sector’s progress. However, it is somewhat relieving to note that almost $99 million was recovered
Argentina’s government recently passed legislation requiring all local crypto firms to register with a new regulatory body or cease operations altogether. This move aligns with recommendations from the Financial Action Task Force and aims to enhance compliance with anti-money laundering and terrorist financing laws. The creation of the Registry of Virtual Asset Service Providers signifies
Bitwise Asset Management, a prominent provider of cryptocurrency index funds, has called for the U.S. Securities and Exchange Commission (SEC) to postpone the approval of a spot Ethereum Exchange-Traded Fund (ETF) until December. This decision comes in light of the overwhelming success of the Bitwise Bitcoin ETF (BITB) and the need to shift focus towards
In the month of March, Shiba Inu (SHIB) saw a significant spike in the burning of its tokens, with over 15.5 billion assets destroyed. The most substantial increase in burns happened on March 8, where almost 14 billion SHIB tokens were sent to a null address. This surge in token burns represented a substantial 2,300%
