CryptoSlam data shows average NFT sell price down 94% from YTD daily high

CryptoSlam metrics, including global sales volume and average sale price, show that crypto winter has hit the NFT sector hard. Critics of NFT art argue that the drop-off in price and trading volume is long overdue — especially for collections like Bored Ape Yacht Club and CryptoPunks, which are deemed “overpriced.” Global NFT sales tank…

Short Bitcoin positions dominate inflows for digital asset investment products

Crypto investment products for the week of June 27 saw a record $51.4 million spent on short Bitcoin positions as bearish sentiments continue in the market, CoinShares’ latest report revealed. According to the report, digital assets investment products saw a total of $64 million in inflows, 80% of which were short Bitcoin positions. Meanwhile, Bitcoin…

Here’s how utility tokens can drive crypto adoption higher

TaschaLabs’ founder Tascha recently reminded the community about the potential of utility tokens and said they could emerge during the bear market and power crypto adoption further. She said: “Real businesses are only waking up to the power of tokenization. Death of speculation in bear mkt gives breathing room for real innovations in tokenization to…

India’s 1% tax has dealt a heavy blow to crypto trading volumes

The trading volumes on Indian cryptocurrency exchanges have come under added pressure from the 1% tax that went into effect on July 1. The trading volumes have been on a downward slope since India imposed a 30% tax on all cryptocurrency and non-fungible token (NFT) transactions and transfers from April 1. The 1% tax will…

Voyager opens withdrawals for transactions submitted prior to suspending trading

Voyager Digital sent out an email to customers announcing that withdrawals processed before the suspension of trading were now being processed. The exchange halted deposits, withdrawals, trading, and rewards on June 30, and the business has issued little communication since. On July 3, the exchange posted a thread on Twitter confirming the value of its…

Hacker wants 10 Bitcoin in exchange for Chinese citizens’ stolen data

An anonymous hacker has offered to sell the stolen personal data of over 1 billion Chinese citizens for 10 Bitcoin (BTC), roughly $200,000. The data includes the names, birthplaces, addresses, phone numbers, national ID, criminal information, and other information of private citizens in the country. The hacker reportedly gained access to the Chinese Shanghai police…

Cardano’s Vasil upgrade goes live on testnet

Cardano (ADA) finally deployed the Vasil upgrade on its testnet on June 3, Input Output Hong Kong (IOHK) announced. The upgrade sets the stage for features that will improve the blockchain’s performance and interoperability. The #Vasil upgrade – deployed yesterday on the Cardano Testnet- will implement a host of widely anticipated features to increase network performance…

Roger Ver delivers ‘disappointing’ statement on unfolding CoinFLEX saga

Roger Ver gave his take on the CoinFLEX situation during the latest Bitcoin Cash Hangout session. Sadly, for everyone affected, Ver could not offer new information, saying legal agreements prevent him from saying more at this time. Catch up on the goings-on at Coinflex On June 24, crypto exchange CoinFLEX announced it was pausing user…

Jeremy Allaire refutes allegations Circle is on the brink of insolvency

Circle CEO Jeremy Allaire on July 2 posted a Twitter thread responding to unfounded allegations that Circle is floundering amid the challenging market conditions. In debunking the claims, Allaire said Circle is in the “strongest position it has ever been in financially.” Commenting on the recent MiCA framework, in which EU lawmakers agreed to implement…