Author: Crypto News Live

Whales began to show massive interest in ETH along with retail investors. The price of ETH gained significantly, and short positions were liquidated. Ethereum [ETH] stagnated for quite some time below the $3,200 level mark, however, a recent resurgence in interest has pushed ETH past its previous price levels. Whales move in As per Lookonchain’s data, a significant whale persisted in purchasing ETH and entering long positions in the ETH/BTC trading pair. The investor borrowed 2301 WBTC (equivalent to $119.75M) from AAVE and converted it into 41,947 ETH at a rate of 0.055, following the launch of the Bitcoin ETF…

Bearish sentiment remains dominant across Bitcoin’s market A few metrics and whale actions could be key to a price reversal  Bitcoin’s [BTC] price has once again fallen below $64k, sparking fear about a further decline on the charts. Now, though there are several factors at play, a possible reason behind the aforementioned price correction could be whales’ latest actions.  Bitcoin whales take profit  Market bears stepped up their game in the last 24 hours as BTC’s price sank on the charts. According to CoinMarketCap, BTC was down by over 2% at press time, with the crypto trading at $63,042 with…

The Bitcoin network has witnessed a surge in trading activity in the days after the halving, as shown by on-chain data. Although the just concluded halving brought a lot of attention to Bitcoin, the recent surge in trading activity can be attributed to something else. According to data from on-chain analytics platform IntoTheBlock, the number of daily BTC transactions has grown rapidly in the past few days to reach a new high of 927,000 thanks to a new token standard called Runes. Bitcoin Daily Transactions Reach New All-Time High Bitcoin’s price has been skyrocketing since the beginning of the year…

The collaboration between KYVENetwork and Cronos represents a critical milestone in advancing blockchain technology. Through this partnership, users will now be able to access Cronos blockchain data effortlessly, which is beneficial to both node operators and developers. Furthermore, this partnership engenders an innovative approach to overseeing historical data via the blockchain, thereby guaranteeing its decentralized accessibility and facilitating seamless integration into a wide array of software applications. The partnership announcement was made through social media account X, proving that KYVE can preserve and authenticate all of Cronos’ previous data. This significant achievement provides a comprehensive and accessible dataset, which aids…

The Altcoin Season Index at 35 suggested that the many tokens were not out of depression. A decline in ETH’s network growth and volume might hinder the upswing. If there is one phrase that has been trending in the market for months without almost nothing to show, it’s “altcoin season.” For the anticipated period to come to life, Ethereum [ETH] and other non-Bitcoin [BTC] cryptocurrencies have to outperform BTC. But that has not happened. In fact, AMBCrypto’s analysis of Blockchaincenter.net revealed that the time was not close. According to the platform, the Altcoin Season Index was at 35. Alts fails…

Bitcoin’s hash rate has risen sharply since the halving BTC’s price decline adversely affected mining profitability too As expected, the cost of Bitcoin [BTC] mining has risen sharply since last week’s halving, creating problems for an industry already suffering from declining profit margins. According to Julio Moreno, Head of Research at on-chain analytics firm CryptoQuant, the hash power required to produce one Bitcoin per day has now surpassed 1 exahash per second (EH/s) for the first time in history. Source: CryptoQuant Halving increases miners’ expenses Halvings attack a vital component of miners’ revenue – Fixed block rewards. The latest one…

Nym, a pioneering privacy-centric mixnet protocol, is joining forces with Aleo, a top-tier privacy-focused blockchain platform, in a strategic alliance backed by Leo Wallet. Leo Wallet, a renowned cryptocurrency wallet native to the Aleo network, is a trusted name in secure wallet infrastructure. The newly formed collaboration harnesses Aleo’s zero-knowledge Layer-1 blockchain technology and combines it with Nym’s Layer-0 mixnet protocol. Aleo’s blockchain empowers developers to create scalable, full-stack applications with built-in security features. By integrating Nym’s mixnet and NymVPN’s decentralized privacy solutions, users will benefit from enhanced privacy and security across their online interactions, encompassing both TCP/IP communications and…

While sales of non-fungible tokens (NFTs) have declined by over 38% in the past 30 days compared to the previous month, NFTs minted on the Bitcoin blockchain have dominated, accounting for more than 44% of sales. Statistics from the last 30 days reveal that four of the top five best-selling NFT collections all stem from the Bitcoin blockchain. Bitcoin’s Dominant Influence on NFT Sales Continues Bitcoin continues to advance in the realm of NFTs, having outperformed 24 unique blockchain networks over the past 30 days, including Ethereum. According to data from cryptoslam.io, Bitcoin-based NFTs have amassed $3.43 billion in total…

TL;DRThe team behind Runes built in a way to programmatically reduce the minimum required number of letters by one character every 17,500 blocks, to prevent name squatting.Full StoryIs Runes the most interesting and well thought out innovation since the creation of Bitcoin itself? It just might well be! We’ve already written about the Rune protocol here and here – and today we’re back to explain why so many of the names of Runes projects are so long and weird. A quick scroll through Runes on Magic Eden shows names like: DOG•GO•TO•THE•MOON, Z•Z•Z•Z•Z•FEHU•Z•Z•Z•Z•Z and even, ALL•YOUR•TICKERS•SUCK.So why the long names? Why…

EigenLayer’s deposits equated to about 4% of ETH’s total circulating supply. Due to EigenLayer, staked ETH supply has risen 1o% YTD. EigenLayer has attracted more than $15 billion in deposits in just over a year since its launch, emerging as one of the most successful decentralized finance (DeFi) projects in recent times. The restaking protocol’s total value locked (TVL) has exploded 14x since the start of the year, a feat that made it the second leading DeFi project by TVL, according to AMBCrypto’s analysis of DeFiLlama’s data. The deposits equated to about 4% of Ethereum’s [ETH] total circulating supply, the asset…