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Bitcoin (BTC) traders saw continued downward pressure after the 5.5% decline in BTC price on March 7. Increased odds of further interest rate increases by the Federal Reserve and regulatory pressure in cryptocurrencies explain some of the movement.Financial markets showed signs of stress as the inverted bond curve reached its
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The supply of wrapped Bitcoin (wBTC) dropped to its lowest since May 2021 after the second-largest single-day burn on Feb. 27. A total of 11,500 WBTC worth about $260 million linked to now-bankrupt crypto lender Celsius was burned, turning its growth rate to negative. The current total supply of the wrapped
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After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market capitalization, slipping below dogecoin’s valuation with a market cap of around $11.12
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The rise of Non-Fungible Tokens (NFTs) has created a new frontier for brands looking to engage with consumers in a more meaningful way. However, as more and more brands enter the space, many are discovering that what they have committed to actually requires methodical, continuous effort and engagement that escalates
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2022 will go down as a tough year for the cryptocurrency space and bleak market conditions were mirrored by a downtrend of venture capital funding flowing into blockchain and crypto activities.A report from Blockdata highlights consecutive drops in funding through all four quarters of 2022, following booming venture capital funding
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Within hours of launching the Ethereum-based Layer-2 scalability network Base, users spent $280,000 in transaction fees while minting a few thousand NFTs. On Thursday, February 23, crypto exchange Coinbase announced the launch of a Layer-2 scalability network for Ethereum, dubbed Base. The development from Coinbase took place in collaboration with
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The recent regulatory action against Binance-branded BUSD stablecoin weighs over BNB token. Original Source
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Despite seeing their share of Africa’s startup funding drop from 48.3% seen in 2021 to 43.4% in 2022, fintech still managed to raise 39.3% more capital in 2022 ($1.45 billion) than they did in 2021 ($1.04 billion). Nigeria was again the best-funded country after 180 of its startups raised a
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The largest marketplace for non-fungible tokens (NFTs), Opensea, has announced major changes to its fee structure and policies in response to a shift in the NFT ecosystem. The company detailed that it will drop fees to zero for a limited time and offer an optional creator earnings model with a
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