In the first half of 2024, stablecoins facilitated transactions totaling $2.6 trillion. 💵
Visa and Castle Island Ventures project that by the end of the year, this volume could soar to $5.28 trillion.
Stablecoins are predominantly utilized for cross-border payments, remittances, payroll, and trading, especially in emerging markets like Nigeria and Brazil.
📊 Key Stats:
▪️47% use stablecoins for savings
▪️43% for better currency conversion
▪️39% for earning yields
57% of users have increased their stablecoin use over the past year, and 72% expect this trend to continue. 🌐💸
Visa and Castle Island Ventures project that by the end of the year, this volume could soar to $5.28 trillion.
Stablecoins are predominantly utilized for cross-border payments, remittances, payroll, and trading, especially in emerging markets like Nigeria and Brazil.
📊 Key Stats:
▪️47% use stablecoins for savings
▪️43% for better currency conversion
▪️39% for earning yields
57% of users have increased their stablecoin use over the past year, and 72% expect this trend to continue. 🌐💸
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CEX.IO Resumes UK Crypto Operations 🇬🇧
After a hiatus, CEX.IO is back in the UK following compliance with new FCA regulations.
👀 Last year, new rules on crypto asset promotions led CEX.IO to voluntarily suspend its UK services. Now, with the FCA's requirements met, including risk warnings and investor assessments, the exchange is ready to reenter the market.
After a hiatus, CEX.IO is back in the UK following compliance with new FCA regulations.
👀 Last year, new rules on crypto asset promotions led CEX.IO to voluntarily suspend its UK services. Now, with the FCA's requirements met, including risk warnings and investor assessments, the exchange is ready to reenter the market.
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🌍 Top 10 Countries for Crypto Adoption According to Chainalysis🚀
🔍 Chainalysis has released its annual ranking of countries by cryptocurrency adoption, based on the Global Crypto Adoption Index. This index is calculated by analyzing millions of crypto transactions and over 13 billion visits to major crypto service websites.
The top five countries leading the way in crypto adoption are:
1️⃣ India
2️⃣ Nigeria
3️⃣ Indonesia
4️⃣ USA
5️⃣ Vietnam
The ranking considers both major exchanges and decentralized services, evaluating the volume of funds in retail transactions. 🌐💸
🔍 Chainalysis has released its annual ranking of countries by cryptocurrency adoption, based on the Global Crypto Adoption Index. This index is calculated by analyzing millions of crypto transactions and over 13 billion visits to major crypto service websites.
The top five countries leading the way in crypto adoption are:
1️⃣ India
2️⃣ Nigeria
3️⃣ Indonesia
4️⃣ USA
5️⃣ Vietnam
The ranking considers both major exchanges and decentralized services, evaluating the volume of funds in retail transactions. 🌐💸
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📈 Standard Chartered Predicts Bitcoin Will Hit New Highs Regardless of US Elections 🇺🇸
🔍 Standard Chartered analysts forecast that Bitcoin will reach new all-time highs by the end of the year, regardless of the US election results. They estimate Bitcoin could surge to $125K if Trump wins and $75K if Harris prevails. 🧐
While US political policies do influence crypto prices, the bank believes other factors play a more significant role.
Earlier this year, they projected Bitcoin might hit $150K by December 2024 and $200K by the end of 2025, with Ethereum possibly reaching $8K and $14K, respectively. 🚀
In contrast, Bernstein's recent report suggests Bitcoin might peak if Trump wins but could drop to $30-40K if Harris wins. Stay tuned for more updates! 🌟📊
🔍 Standard Chartered analysts forecast that Bitcoin will reach new all-time highs by the end of the year, regardless of the US election results. They estimate Bitcoin could surge to $125K if Trump wins and $75K if Harris prevails. 🧐
While US political policies do influence crypto prices, the bank believes other factors play a more significant role.
Earlier this year, they projected Bitcoin might hit $150K by December 2024 and $200K by the end of 2025, with Ethereum possibly reaching $8K and $14K, respectively. 🚀
In contrast, Bernstein's recent report suggests Bitcoin might peak if Trump wins but could drop to $30-40K if Harris wins. Stay tuned for more updates! 🌟📊
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🚨SEC's Shifting Stance on Crypto Assets: What's Going On?
The SEC is stirring up confusion by claiming it never meant for "crypto asset securities" to imply that tokens themselves are securities. Despite using the term frequently, the SEC now says it refers to the full context of contracts and sales expectations, not the assets themselves. 🧐😁
👀 In its updated complaint against Binance, the SEC admits its terminology might have caused confusion and vows to stop using it.
Critics, including legal experts and industry leaders, are baffled and accuse the SEC of extreme gaslighting and contradictions. Ripple's lawyers argue that the SEC's stance is "a twisted pretzel of contradictions." 🥨
The SEC’s lawsuit against Binance continues, alleging violations of securities laws and claiming that some crypto assets are investment contracts under the Howey test. 😶🌫️
The SEC is stirring up confusion by claiming it never meant for "crypto asset securities" to imply that tokens themselves are securities. Despite using the term frequently, the SEC now says it refers to the full context of contracts and sales expectations, not the assets themselves. 🧐😁
👀 In its updated complaint against Binance, the SEC admits its terminology might have caused confusion and vows to stop using it.
Critics, including legal experts and industry leaders, are baffled and accuse the SEC of extreme gaslighting and contradictions. Ripple's lawyers argue that the SEC's stance is "a twisted pretzel of contradictions." 🥨
The SEC’s lawsuit against Binance continues, alleging violations of securities laws and claiming that some crypto assets are investment contracts under the Howey test. 😶🌫️
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The CEO of CryptoQuant, Ki Young Ju, revealed a significant profit disparity between old Bitcoin investors and new market entrants.
His analysis shows that:
▪️Long-term investors and miners, who acquired Bitcoin at lower prices, are seeing substantial profits.
▪️New custodial wallet holders and ETF investors, who bought in at around $62,000, are currently experiencing a 6% loss.
▪️Traders who entered at $55,000 are holding a modest 3% profit.
▪️Mining firms are enjoying a 32% profit, having secured their Bitcoin at $43,000.
▪️The biggest winners are the "old whales," with a 106% gain, having bought Bitcoin at $27,000.
His analysis shows that:
▪️Long-term investors and miners, who acquired Bitcoin at lower prices, are seeing substantial profits.
▪️New custodial wallet holders and ETF investors, who bought in at around $62,000, are currently experiencing a 6% loss.
▪️Traders who entered at $55,000 are holding a modest 3% profit.
▪️Mining firms are enjoying a 32% profit, having secured their Bitcoin at $43,000.
▪️The biggest winners are the "old whales," with a 106% gain, having bought Bitcoin at $27,000.
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🥷 The WazirX hacker has successfully laundered approximately 27,600 ETH ($65.5 million) so far.
Currently, they hold 34,154 ETH ($82.6 million), which is about 55% of the stolen funds. The rest is in tokens like CELR, OOKI, FRONT, and LOOM. 💰
Over the past week, the hacker transferred 20,000 ETH ($46.97 million) through the Tornado Cash mixer. 🧐
Currently, they hold 34,154 ETH ($82.6 million), which is about 55% of the stolen funds. The rest is in tokens like CELR, OOKI, FRONT, and LOOM. 💰
Over the past week, the hacker transferred 20,000 ETH ($46.97 million) through the Tornado Cash mixer. 🧐
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🔎 Binance analysts have discovered dangerous malware called Clipper, which changes the withdrawal address during a transaction.
This malware intercepts data from the clipboard and primarily targets cryptocurrency wallet addresses. 🧐
⚠️ Be extremely cautious with the apps and plugins you install, especially on Android and web applications.
This malware intercepts data from the clipboard and primarily targets cryptocurrency wallet addresses. 🧐
⚠️ Be extremely cautious with the apps and plugins you install, especially on Android and web applications.
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📉 Bitcoin was hovering around $60,000 over the weekend and fell to $58,000 yesterday evening, in the wake of yet another assassination attempt on Trump. 🔫
🔪This drop resulted in long liquidations totaling $144 million. Currently, Bitcoin is trading at $58,900.
The Fear and Greed Index has returned to the “Fear” level, after remaining in neutral territory over the weekend.
Meanwhile, Bitcoin’s dominance index is at its highest level since 2021. 🚀
Bitcoin’s market share has reached 58%, the highest it has been in over three years.
Traditionally, a decrease in Bitcoin dominance is seen as the beginning of an “altcoin season,” whereas an increase in Bitcoin’s share relative to the rest of the crypto market indicates instability among alternative cryptocurrencies. 🤷
At the same time, the Ethereum-to-Bitcoin ratio has hit a new low, with Ethereum’s market share falling. The ETH/BTC value has dropped below 0.04 for the first time since 2021.🥴
🔪This drop resulted in long liquidations totaling $144 million. Currently, Bitcoin is trading at $58,900.
The Fear and Greed Index has returned to the “Fear” level, after remaining in neutral territory over the weekend.
Meanwhile, Bitcoin’s dominance index is at its highest level since 2021. 🚀
Bitcoin’s market share has reached 58%, the highest it has been in over three years.
Traditionally, a decrease in Bitcoin dominance is seen as the beginning of an “altcoin season,” whereas an increase in Bitcoin’s share relative to the rest of the crypto market indicates instability among alternative cryptocurrencies. 🤷
At the same time, the Ethereum-to-Bitcoin ratio has hit a new low, with Ethereum’s market share falling. The ETH/BTC value has dropped below 0.04 for the first time since 2021.🥴
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Crypto soothsayer
Sony has announced the upcoming launch of its L2 solution, named Soneium. 🚀 The blockchain will enter its testnet phase in the next few days. Soneium is built on the OP Stack. In its first year, the focus will be on attracting the Web3 community, with…
🔗 Circle has announced a partnership with Sony Block Solutions Labs to implement a USDC bridge on the Soneium blockchain.
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Crypto soothsayer
The DeFi protocol DeltaPrime was hacked and $7,000,000 worth of cryptocurrency was stolen! 🙀
The DeFi protocol team DeltaPrime announced that their insurance pool will cover any potential losses incurred due to today's exploit. 💰
🥷 The exploit targeted only the DeltaPrime Blue protocol on the Arbitrum blockchain, from which a drainer siphoned $5.98 million. This occurred due to a compromised private key, the source of which is currently under investigation. 🕵️♂️
In contrast, the DeltaPrime Red protocol (on the Avalanche blockchain) was not vulnerable to this attack, as its implementation is protected exclusively by multi-signatures and cold wallets (as it should be). 🤷
🥷 The exploit targeted only the DeltaPrime Blue protocol on the Arbitrum blockchain, from which a drainer siphoned $5.98 million. This occurred due to a compromised private key, the source of which is currently under investigation. 🕵️♂️
In contrast, the DeltaPrime Red protocol (on the Avalanche blockchain) was not vulnerable to this attack, as its implementation is protected exclusively by multi-signatures and cold wallets (as it should be). 🤷
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🚨 Solana's Bull Run at Risk: Death Cross May Signal Reversal 📉
Solana's impressive 11-month bull run, which began in October 2023, is facing a potential turning point. The looming "death cross," where the 50-day EMA crosses below the 200-day EMA, suggests that the bullish momentum could be ending. 🧐
Solana is currently testing key support levels at $124 and $120 – if these are broken, a significant price drop may follow.
🔎 Analyst Alan Santana warns of a possible 42% decline, with the price potentially falling to $80. Despite some short-term optimism from the MACD indicator, Solana remains vulnerable, and investors are urged to monitor the market closely.
Solana's impressive 11-month bull run, which began in October 2023, is facing a potential turning point. The looming "death cross," where the 50-day EMA crosses below the 200-day EMA, suggests that the bullish momentum could be ending. 🧐
Solana is currently testing key support levels at $124 and $120 – if these are broken, a significant price drop may follow.
🔎 Analyst Alan Santana warns of a possible 42% decline, with the price potentially falling to $80. Despite some short-term optimism from the MACD indicator, Solana remains vulnerable, and investors are urged to monitor the market closely.
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The closure of a mining farm led to a 20% increase in electricity tariffs! 💡💸
🇳🇴 Residents of the Norwegian village of Stokmarknes succeeded in shutting down the KryptoVault mining farm, but it has had unexpected consequences. Now, their electricity bills will rise by 20%! 📈💰
The mining farm, which had been operating for several years, consumed 80 GWh annually, equivalent to the usage of 3,200 households. Locals complained about the noise and even threatened to blow up the farm. In September 2024, its operations were halted.
👀 However, the local energy company now has to compensate for the loss of revenue, as KryptoVault provided around 20% of their income. As a result, residents will see a significant increase in their electricity bills starting next month. 😁
🇳🇴 Residents of the Norwegian village of Stokmarknes succeeded in shutting down the KryptoVault mining farm, but it has had unexpected consequences. Now, their electricity bills will rise by 20%! 📈💰
The mining farm, which had been operating for several years, consumed 80 GWh annually, equivalent to the usage of 3,200 households. Locals complained about the noise and even threatened to blow up the farm. In September 2024, its operations were halted.
👀 However, the local energy company now has to compensate for the loss of revenue, as KryptoVault provided around 20% of their income. As a result, residents will see a significant increase in their electricity bills starting next month. 😁
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