Category: Crypto

The cryptocurrency market is facing a growing liquidity crisis, as evidenced by the significant price slippages observed during recent sell-offs. According to research by Kaiko, the ongoing issue of liquidity fragmentation across crypto exchanges has resulted in noticeable price discrepancies, particularly during periods of market stress. Price Slippage Liquidity fragmentation refers to the uneven distribution of liquidity across various exchanges. The recent market sell-off brought these issues to the forefront, with BTC prices on Binance.US being different from those on more liquid platforms. Binance.US, a platform that has struggled with…

Bitcoin is at a “perfect” setup from a macroeconomic perspective, but over $500 million worth of looming liquidations threaten to create more volatility for the world’s first cryptocurrency. In relation to the global M2 money supply, Bitcoin’s (BTC) current mid-cycle correction positions it for an imminent bullish breakout, according to Jamie Coutts, a chief crypto analyst at Real Vision. Coutts wrote in an Aug. 13 X post: “Over the past decade, Bitcoin has had a tendency to trough several months before the bottom in global M2. Then it rips, gets…

TL;DR Sui (SUI) saw a 125% weekly increase, driven by the launch of Grayscale’s Sui Trust. Despite strong gains, the high RSI indicates that the asset might be overbought, suggesting a potential correction. The Top Performer Sui (SUI) is among the few leading cryptocurrencies today (August 12), and its price has charted an impressive increase. It is up over 9% on a daily scale and a whopping 70% weekly, currently trading at around $1 (per CoinGecko’s data). Source: CoinGecko SUI’s price started its significant ascent last week, shortly after Grayscale…

Layer-1 blockchain Canto appears to have halted block production again after briefly coming back online, with the team flagging “unforeseen secondary effects” as a fresh problem.  According to Canto Explorer, the Cosmos-based layer-1 blockchain began block production again at about 12:35 pm UTC on Aug. 12 after applying its scheduled fix, running for about 90 minutes before halting again on block 10,848,199. Source: Canto Canto had initially pegged an “upgrade” at 12:00 pm UTC on Aug. 12 to address the consensus issue. A consensus mechanism validates a transaction and marks…

Cryptocurrency custody platform BitGo recently announced plans to transfer its Wrapped Bitcoin (WBTC) business to a joint venture with Hong Kong-based BiT Global. The move, intended to enhance security through a multi-jurisdictional and multi-institutional custody structure, has caused backlash due to the involvement of controversial crypto figure Justin Sun. Backlash Over Justin Sun’s Involvement In an August 10 post on X, BitGo CEO Mike Belshe confirmed Justin Sun’s involvement in the company’s new partnership. Belshe emphasized that BitGo had disclosed Sun’s role from the beginning to ensure transparency despite him…

According to a poll sponsored by venture capital firm Paradigm, United States Democratic presidential nominee Kamala Harris has an opportunity to make “inroads with crypto owners” during her campaign. In a poll conducted with Mercury Analytics among 804 self-identified Democratic registered voters after US President Joe Biden said he would not be running for reelection, data suggested that Vice President Harris could increase her chances of winning in November by appealing to crypto-focused voters. Of the Democrats surveyed, 27% said they were “somewhat likely” or “very likely” to purchase crypto in…

The Ethereum network is currently experiencing its lowest level of ETH burning this year. Data suggests that the base fee briefly tumbled to a multi-year low of almost 0.8 Gwei. This significant drop in base gas fees has led to a reduction in ETH issuance, with only 210 ETH burned on August 10th, which represented a record low for 2024, according to ‘Ultra sound Money.’ This is a huge drop from the figure recorded on August 5, when base fees spiked to around 100 Gwei, causing the daily ETH burn…

Cosmos-based layer-1 blockchain Canto says it is planning to implement an upgrade on Aug. 12 to address its ongoing 33-hour outage, which it says was caused by “an issue with consensus.” Launched in August 2022, Canto styles itself as a permissionless general-purpose blockchain designed for decentralized finance (DeFi) applications that is also Ethereum Virtual Machine (EVM) compatible. The Canto blockchain has been down for over a full day now, pending an upgrade to try  Source: CantoScan block explorer According to the CantoScan block explorer, the Canto blockchain has been down…

Toronto-based Bitcoin mining company Bitfarms reported a total revenue of $42 million, marking a 16% decline quarter-over-quarter. This decrease is attributed to the reduction in block rewards resulting from the BTC halving event on April 19, 2024. Q2 Financial Result Bitfarms reported a net loss of $27 million, or $0.07 per share, which includes a $1 million non-cash expense for revaluing warrant liabilities from financing activities in 2021 and 2023. This compares to a net loss of $6 million, or $0.02 per share, in Q1 2024, which included a $9…

Microsoft is reportedly looking to take on Apple’s Vision Pro headset with new hardware it would develop in partnership with Samsung. This would mean that five of the ten most valuable companies by market capitalization — Apple, Google, Meta, Microsoft, and Nvidia — are currently developing new metaverse gear.  The Microsoft news comes from a local outlet in South Korea, The Elec. According to the report, Microsoft plans to order hundreds of thousands of OLED panels from Samsung for a device to be mass produced in 2026. That’s a ways…