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Cryptocurrency is going to break out of its bubble and reach critical mass thanks to layer-2 blockchains — and a couple of other factors. After 2021, we entered an era in cryptocurrency where people stopped talking only about financial decentralization and started to broadly discuss the tokenization of everything, thanks in part to nonfungible tokens (NFTs). This shift represents a critical perspective that is set to guide three theses for the upcoming bull market . To fully grasp these theses , it is crucial to understand that everything is data. Money is data. Your engagement with a brand is data. Your credentials are data. The ticket for your favorite show is data. Since 2021, the ecosystem has increasingly started to store a large part of this data in the form of fungible tokens, NFTs, and timestamps on the blockchain, which acts as a data repository in this context. Related: Expect new IRS crypto surveillance to come with a surge in confiscation While not all data needs to be on...

The crypto exchange says more potential issues, such as an opaque token economy and an unclear vesting schedule, have also been discovered. Cryptocurrency exchange Bitget has decided to delist Floki’s sister token, TokenFi (TOKEN), and launch a buyback plan after the company discovered market manipulation issues related to the project. In a press release on Oct. 31, the exchange said the TokenFi team was suspected of market manipulation by “maliciously controlling the initial liquidity.” Bitget also addressed issues related to the project’s liquidity on decentralized exchanges, saying less than $2,000 in tokens have been added to the liquidity pool. “In addition, during a further investigation of the project, more potential issues such as an opaque token economy and an unclear vesting schedule have been discovered.” Bitget You might also like: Floki up 13% as devs launch RWA platform As a result, Bitget suspended deposits and trad...

Bitcoin (BTC), the largest cryptocurrency globally, has once again captured the interest of the financial world due to its recent resurgence, as the asset looks to break free from the bearish conditions that prevailed throughout the previous year. Bolstered by its recent upswing, Bitcoin has surpassed traditional equities in market capitalization, signifying a potential notable shift in the financial landscape. Particularly, data obtained by Finbold on October 26 shows that Bitcoin commands a market capitalization of $677.23 billion, surpassing major selected traditional sector stocks. For instance, Bitcoin has outpaced electric vehicle manufacturer Tesla (NASDAQ: TSLA), which has a market cap of $675.26 billion, and pharmaceutical firm Eli Lilly (NYSE: LLY) at $556.72 billion.  Furthermore, Bitcoin exceeds finance giant Visa (NYSE: V), which possesses a capitalization of $489 billion, semiconductor manufacturer TSMC with a market cap of $454.53 billion, and healthcare firm Novo ...

The Chainalysis workforce will be reduced by around 150 as the bear market bites deeper. Blockchain analytics firm Chainalysis has reduced its headcount by another 15% this week, citing the need to reduce expenses due to continued bear market blues. On Oct. 3, Chainalysis confirmed to Cointelegraph that it had made the difficult decision to part ways with 15% of its employees, amounting to approximately 135 staff. ‘While Chainalysis continues to be well positioned for long-term success as a consistently top-performing software company, we are very focused on growing efficiently and, due to market conditions, believe it necessary to reduce our expenses at this time,’ said Chainalysis Vice President of Communications, Madeleine Kennedy. We remain committed to our mission to build trust in blockchains among government agencies, financial institutions, and cryptocurrency businesses,’ she added. A spokesperson for Chainalysis confirmed the firm had around 900 employees befo...

Bitcoin mining is becoming harder — which means miners will have to spend more to receive fewer rewards. But there are still ways to be profitable. Only seven months remain before the next Bitcoin (BTC) halving in April 2024. It happens approximately every four years and is a deflationary process that cuts the production of new coins by 50%. Bitcoin's halving is a high-profile event for crypto investors, and has historically led to an increase in Bitcoin's price. However, its impact on the mining industry is a more complex issue. It reduces block rewards,  one of the primary revenue streams for miners. The 2024 halving will reduce it from 6.25 BTC to 3.125 BTC. That’s why miners must adapt their strategies to compensate for the reduced rewards resulting from the halving. Let’s explore the strategies and alternative income sources that may help Bitcoin miners amid hostile market conditions. Changing mindsets Bitcoin mining involves a competitive process where miners vie for ...

Crypto exchanges HTX (formerly Huobi) and OKX have seen their traffic surging 200% and 185% YTD, respectively. Cryptocurrencies like Bitcoin (BTC) have been widely described as going through a bear market in 2023, but this may not exactly be the case, according to indicators such as the website traffic of certain crypto platforms. Some major cryptocurrency websites, such as Binance and Coinbase, have seen a significant traffic drop in 2023, but there are many crypto sites that have experienced the opposite. According to data from the web analytics platform Similarweb, the number of total monthly visits on the Binance website tumbled by 22% from 69 million in January 2023 to 54 million in August. Coinbase’s website has experienced a 15% traffic decline over the period, with the number of visits dropping from 33.5 million to 28.4 million. A number of cryptocurrency exchange websites have had more success in terms of traffic, though. According to Similarweb data accessed by Cointelegraph...

Binance VP Eastern Europe Gleb Kostarev and CIS director Vladimir Smerkis have announced they have quit the company. Cryptocurrency exchange Binance is losing two key executives related to the Russian market amid major regulatory challenges related to sanctions. Gleb Kostarev, head of Eastern Europe and Russia at Binance, took to Facebook on Sept. 6 to announce his departure from Binance. In his Russian-language announcement, Kostarev said that today marks the last day of his long-running work at Binance. He added that he’s stepping down as vice president responsible for Eastern Europe, the Commonwealth of Independent States (CIS), Turkey, Australia and New Zealand. He also stepped down from serving the role in the Asia-Pacific region “a few months ago,” the exec added. Kostarev expressed gratitude to Binance CEO Changpeng “CZ” Zhao and co-founder He Yi for all the opportunities that they provided. “Thanks to all the local initiative teams for their hardcore work and amazing campaig...

Avi Felman says he’s bullish on bitcoin miners, but not strictly because of bitcoin’s potential. With a pivot to providing high-performance computing, or HPC, companies are finding new ways to broaden their revenue stream beyond ASIC mining. Hut 8, best known as a bitcoin mining company with facilities in Alberta, Canada and Texas, is a great example, he says. Thanks to its high capacity computing infrastructure, Hut 8 recently signed a contract to provide HPC for clients in Canada’s health sector. On a recent 1000X podcast (Spotify/Apple), the head of digital asset trading at GoldenTree talks to Cumberland’s Global Head of Trading Jonah Van Bourg about the broadening revenue strategy. It’s not about the hardware With the growing potential for more cash flow, one might expect mining companies to pack up their ASICs for greener pastures, leaving the precarious business of crypto mining and its knife-edge profit margins behind. But it’s not about the chips, Felman says, “it’s a c...

Although it might technically be true that a sufficiently large market sell order on a particular trading pair could temporarily crash that pair’s bitcoin price, this bearish rhetoric is often overreaching. In reality, bitcoin has the deepest depth of market for any crypto asset in the world. Moreover, traders update bids across markets within fractions of a second thanks to arbitrage and multi-exchange software. Take, for example, a fear-mongering claim that a $4 million market sell order on Curve Finance’s BTC/USDT trading pair would “ crash ” the price of Bitcoin 20%. While this claim was technically true, in practical terms, it is in fact meaningless. For a fraction of a second, the final fill of a $4 million market sell order on that particular pair would have printed at a “ flash crash ” price. However, that price would have been anomalous and isolated. Bitcoin trades across thousands of spot and derivative trading pairs on hundreds of centralized...

Join Our Telegram channel to stay up to date on breaking news coverage Approximately a year ago, a few crypto industry heavyweights made sassy debuts on the Super Bowl ad lineup, airing pricey ads with slogans like “Don’t miss out” (FTX) and “Fortune favors the brave” (Crypto.com). Then the cryptocurrency market crashed and FTX filed for bankruptcy. Currently, businesses in the sector as a whole are utilizing market ing and PR initiatives to protect their brands , separate themselves from questionable players like FTX, and, in many cases, portray a friendlier face to both investors and regulators. As owners of valuable assets, they are confronted with a tremendous reduction in trust, according to Tom Wason, global principal at Wolff Olins, a brand strategy company that has worked with leading cryptocurrency firms. According to him, businesses in the space are attempting to maintain their current levels of growth—or survival—while reass...

Average daily addresses on the Binance blockchain network grew by 30% year-on-year in Q4. The Binance-native blockchain BNB Chain has continued to show steady activity growth in the fourth quarter of 2022 despite the broader crypto bear market according to recent research. In a “State of BNB Chain Q4 2022” report published on Feb. 5, Messari researcher James Trautman revealed that the Binance network had continued with an “aggressive strategy to deploy financial and human capital across its ecosystem.” Due to these ongoing updates and developments, average daily active addresses and transactions “bucked a downward trend and grew by 30% and 0.2%, respectively,” the researcher noted. BNB Chain daily active addresses - Messari Bear market s are usually quiet periods in terms of on- chain activity , however, teams use this time to continue building and developing their products. “2022 was a tumultuous year for the crypto industry [...] Despite the market volatility, BNB Chain lived up ...

Episode four of Cointelegraph’s Crypto Trading Secrets podcast features an interview with Nicholas Merten, who shared his opinions on the crypto bear market and more. Nicholas Merten, a crypto trader and the creator of the DataDash YouTube channel, joined Cointelegraph’s Crypto Trading Secrets Podcast for an interview with host Benjamin Pirus, discussing a number of topics, including his opinions on the state of the crypto market . “I think that right now, we’ve been going through what can only be seen as a period of consolidation,” he said when asked about his thoughts on the price of Bitcoin (BTC) as of Jan. 9, the date of the interview. Bitcoin largely traded sideways for part of November and most of December. January, however, has seen the asset rise from below $17,000 to above $23,000. Looking back at Bitcoin’s price chart shows the asset near the beginning of its ascent on Jan. 9, sitting in the low- to mid-$17,000 range. Merten noted that he likes to look at the big pictur...

The total crypto market cap is at risk of falling below $825 billion, but data shows traders actively adding to their longs and shorts. The total cryptocurrency market capitalization dropped 8.1% in the past two days after failing to break the $880 billion resistance on Dec. 14.  The rejection did not invalidate the 4-week-long ascending channel, but a weekly close below $825 billion will confirm a shift to the lower band and reduce the support level to $790 billion. Total crypto market cap in USD, 12-hour. Source: TradingView The overall investor sentiment toward the market remains bearish, and year-to-date losses amount to 66%. Despite this, Bitcoin (BTC) price dropped a mere 2% on the week, down to the $16,800 level at 17:00 UTC on Dec. 16. A far different scenario emerged for altcoins which are being pressured by pending regulation and fears that major exchanges and miners could be insolvent . This explains why the total market capitalization had dropped by 4.7% since Dec. 9. Ac...