Analyzing Bitcoin’s market cap shows that the 2022 bear market brought the fourth worse drawdown from the all-time high in its history. Bitcoin’s drop to $15,500 represents a 76.92% drawdown from its ATH. Market capitalization is one of the most widely used metrics when estimating the size and value of an asset. Defined as the…
Ad Layer-2 network Optimism airdropped 11.7 million tokens to over 300,000 wallets on Feb. 9, increasing its OP token circulating supply to 234.74 million. Following the news, the OP token fell by 13% in the last 24 hours to $2.33 as of press time, according to CryptoSlate data. OP is one of the best-performing digital assets…
Ad The post-mortum on Kraken’s staking enforcement by the SEC has begun. On Feb. 9, Kraken said it would end its staking service in the U.S. and disclosed paying a $30 million fine to settle allegations of failing to register its staking service as a security offering. SEC Commissioner Pierce wades in Crypto-friendly SEC Commissioner…
Gazprombank said the Russian central bank digital currency (CBDC) has to be launched gradually and carefully to minimize the losses banks will face as a consequence, Russian news outlet RBC reported Feb. 7. According to the report, the lender believes the digital ruble will lead to an inevitable fall in banks’ income due to lower…
Two notable Bitcoin mining firms, Hut 8 and US Bitcoin, have announced a merger as detailed in a press release published on Feb. 7. Combined company will have six sites The merger will combine two of Hut 8’s sites in Canada with all four of US Bitcoin’s sites in the US. The combined firm will…
Latest Report Is the crypto bottom in? On-chain says yes, macro says pain occurs after the fed pause Is Bitcoin poised for a new low or has the bottom been set at $15,500? CryptoSlate analyzed on-chain and macro data to present both sides of the argument. Andjela Radmilac · 2 days ago
Adopting a wait-and-see approach is the best way to regulate the DeFi space, according to a report by Binance and the National Bank of Kazakhstan. While waiting to see how the market would develop, the pair suggested increasing the collaboration between the regulators, building and learning through a regulatory sandbox, and educating both the consumers…
Crypto exchange Binance asked WazirX operator Zanmai Labs to withdraw the funds on its Binance wallets because it was terminating its services to the firm, according to a Feb. 3 statement. Binance said it decided after Zanmai failed to clarify its misleading statements about the relationship between both firms. The exchange said it only provided…
AllianceBlock has been attacked in a multi-million dollar exploit, according to a Feb. 1 announcement by the DeFi project. That report indicates that an attacker gained access to 110 million ALBT tokens, which were worth about $12 million prior to the attack. The price of ALBT has dropped dramatically, as its value fell from $0.11…
Bitcoin closed the week strongly with a fourth consecutive green candle for the first time since August 2021. Four weeks of positive momentum during a bear market is extremely rare. The last time printed four consecutive green candles during a bear market was during the COVID-19 crash recovery of May 2020. Prior to that, any…