In the first quarter of 2024, Ethereum and its Layer 2 scaling solution, Polygon, emerged as the top contenders in attracting new users to their blockchain platforms. According to the latest report by Flipside, Ethereum and Polygon collectively acquired a substantial number of new users, with Ethereum gaining 13.4 million and Polygon boasting 12.3 million.
Crypto
Bitcoin halving is a process that occurs approximately every four years, aimed at slowing down the creation of new Bitcoins. This mechanism ensures that the last Bitcoin will be mined over a hundred years from now, despite the fact that over 19.6 million Bitcoins are already in circulation. The reduction in production speed, coupled with
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 beyond its current $2 billion mark. The team emphasized BTC’s role in enhancing USDe’s scalability, pointing out its increasing open interest in major exchanges. BTC has
The cryptocurrency market has recently experienced a period of correction, with Bitcoin (BTC) being one of the most impacted digital assets. BTC’s price has fallen by approximately 6% over the past week, currently trading at around $65,400 according to CoinGecko’s data. One potential reason for the increased volatility and decline in BTC’s value is profit-taking
The recent analysis by industry analytics provider Glassnode reveals a significant shift in Bitcoin investor behavior as long-term holders begin distributing BTC to new investors at higher prices. This trend has led to an injection of new capital into the asset class, driving the realized cap to new heights. Despite the positive news of the
March proved to be a groundbreaking month for the Bitcoin mining industry, with miners raking in over $2 billion for securing the leading cryptocurrency network. The data from Blockchain.com reveals that miners averaged a staggering $65.23 million per day over the course of 30 days, ending on March 31st. This figure far surpasses the previous
In March 2024, blockchain security firm PeckShield released a report that highlighted a distressing increase in crypto hacks, causing over $187.29 million in losses across more than 30 incidents. Despite some recovery efforts, these breaches have dealt a significant blow to the DeFi sector’s progress. One of the most devastating breaches mentioned in the report
Argentina has taken a significant step in the regulation of the cryptocurrency industry by requiring all local crypto firms to register with the newly established regulatory body dedicated to the sector. Failure to comply with this requirement could result in these firms being forced to cease operating entirely. The decision comes after the nation’s senate
Bitwise Asset Management is making a bold move by urging the U.S. Securities and Exchange Commission (SEC) to defer the approval of a spot Ethereum Exchange-Traded Fund (ETF) until December. This decision comes amid the soaring success of the Bitwise Bitcoin ETF (BITB), which has accumulated over $2 billion in assets under management since its
In March, Shiba Inu (SHIB) saw a massive increase in token burns, with billions of tokens being removed from circulation. The burn rate for the month resulted in over 15.5 billion assets being destroyed, marking a significant spike compared to previous months. The largest burn occurred on March 8, when almost 14 billion SHIB tokens
