Cryptonews

Cryptonews


Global Economy Outlook Cut Again, Another Crypto Exchange Leaves Russia & Belarus + More News

Posted: 18 Apr 2022 09:01 AM PDT

 
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today's crypto news.
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Read More: Global Economy Outlook Cut Again, Another Crypto Exchange Leaves Russia & Belarus + More News

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Bitcoin Lightning Network Payments Jump Over 400%, 80M Users Have Access to Network

Posted: 18 Apr 2022 08:43 AM PDT

 
As the usage of the Bitcoin (BTC) Lightning Network is growing rapidly, now more than 80m users are estimated to have access to this network, compared with 100,000 users last summer, a new report from Arcane Research has found.
The main driver of growth for the Lightning Network this year has been Jack Dorsey's payments app Cash App. Also, El Salvador's national Lightning wallet Chivo and the popular bitcoin trading platform Paxful contributed to most of the growth in 2021....
Read More: Bitcoin Lightning Network Payments Jump Over 400%, 80M Users Have Access to Network

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No Truth in Reports that Russia’s Finance Ministry Wants Crypto to Become ‘Legal Tender’

Posted: 18 Apr 2022 07:45 AM PDT

 
Reports stating that the Russian Ministry of Finance now "recommends using cryptocurrencies as legal tender" appear to be very wide of the mark. 
A number of crypto-related media outlets have made the claim that the ministry has pushed for a move that would put tokens on the same footing as the fiat ruble. However, the sources these outlets have used to back their claims do not appear to give any backing to such claims. ...
Read More: No Truth in Reports that Russia's Finance Ministry Wants Crypto to Become 'Legal Tender'

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Ethereum Foundation’s Crypto Holding Made Up of 99% ETH

Posted: 18 Apr 2022 06:13 AM PDT

 
The Ethereum Foundation (EF), the organization responsible for allocating financial support within the Ethereum (ETH) ecosystem, had USD 1.3bn invested in crypto as of the end of last quarter, with the vast majority of that held in ETH, according to the foundation's latest report....
Read More: Ethereum Foundation's Crypto Holding Made Up of 99% ETH

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Bitcoin, Ethereum Bears Gain Control, STX Accelerates

Posted: 18 Apr 2022 05:15 AM PDT

 
Bitcoin price failed to stay above the USD 40,000 pivot level and extended decline below the USD 39,200 support level. It is currently (12:00 PM UTC) trading below USD 39,100 and might decline below USD 38,500.
Similarly, most major altcoins are gaining bearish momentum. ETH declined below the USD 2,920 support level while XRP is hovering below USD 0.75. ADA declined 7% and traded below the USD 0.90 support.
Total market capitalization...
Read More: Bitcoin, Ethereum Bears Gain Control, STX Accelerates

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Liquidations Soar in Crypto Market while Some Traders Hope for ‘Upcoming Bounce’

Posted: 18 Apr 2022 04:26 AM PDT

 
The crypto market saw a broad sell-off led by ethereum (ETH) and other major layer 1 competitors falling between 4% and 7% over the past day. The fall led to a spike in liquidations, with some popular traders now speculating that the market could be getting ready for a reversal higher....
Read More: Liquidations Soar in Crypto Market while Some Traders Hope for 'Upcoming Bounce'

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MetaMask Issues Warning About Phishing Attacks Via iCloud After a User Lost USD 650K

Posted: 18 Apr 2022 03:42 AM PDT

 
Popular software crypto wallet MetaMask has issued a warning about possible phishing attacks through Apple's cloud service iCloud. The warning comes after scammers managed to steal USD 650,000 worth of crypto using this attack vector....
Read More: MetaMask Issues Warning About Phishing Attacks Via iCloud After a User Lost USD 650K

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Monero v15 Upgrade Scheduled for July, Community Tries to Coordinate XMR ‘Bank Run’

Posted: 18 Apr 2022 02:47 AM PDT

 
The Monero (XMR) community scheduled the v15 network upgrade for mid-July after reaching a consensus -- an upgrade that will not include the "Monero 2.0" hard forks. Meanwhile, some project supporters are trying to orchestrate "The Monerun."
"Monero is set to hard fork on July 16th 2022 at block 26688881, after the community has reached consensus in today's Monero Development Workgroup meeting," Monero Observer reported....
Read More: Monero v15 Upgrade Scheduled for July, Community Tries to Coordinate XMR 'Bank Run'

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Beanstalk Hacker Drains USD 182M from Project, But Nets Only USD 80M

Posted: 18 Apr 2022 01:01 AM PDT

 
Beanstalk, a decentralized credit-based stablecoin protocol, fell victim to a flash-loan attack over the weekend that saw the protocol exploited for USD 182m worth of crypto. However, the attacker managed to cash out 'only' USD 80m.
According to blockchain security firm PeckShield, the attacker ran away with ETH 24,830 and the protocol's stablecoin BEAN 36m, among others. 
After swapping, BEAN lost its dollar peg, which could explain why the attacker netted much lower....
Read More: Beanstalk Hacker Drains USD 182M from Project, But Nets Only USD 80M

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Bitcoin and Ethereum Keep Trending Lower, Altcoins Increase Losses, DCR Rallies

Posted: 17 Apr 2022 09:42 PM PDT

 
Bitcoin price remained in a range below the USD 41,200 resistance zone. BTC is currently (04:27 UTC) moving lower and trading below USD 39,500. If the bears remain in action, the price could drop to USD 39,000. It's now down almost 3% in a day and 7% in a week....
Read More: Bitcoin and Ethereum Keep Trending Lower, Altcoins Increase Losses, DCR Rallies

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Taproot Adoption Remains Low, But Devs Say It Isn’t a Problem for Bitcoin

Posted: 17 Apr 2022 04:00 AM PDT

 
Taproot is the biggest upgrade Bitcoin (BTC) has seen since SegWit (Segregated Witness), providing the cryptocurrency with a range of new features that make it more private and more versatile. These include support for complex transactions involving multiple signatures, as well as the ability to make Lightning channels look like normal Bitcoin transactions....
Read More: Taproot Adoption Remains Low, But Devs Say It Isn't a Problem for Bitcoin

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Why We Can’t Just ‘Stop Printing Money’ to Get Inflation Down

Posted: 17 Apr 2022 03:00 AM PDT

 
Jacqueline Best, Professor, School of Political Studies, the University of Ottawa.__________ 
With the Bank of Canada announcing an oversized interest rate hike this week, it might seem like central banks are coming to rescue us from inflation once again. Yet while they did play an important role in mitigating a COVID-induced recession, central banks don't have the power to solve our inflation problem. ...
Read More: Why We Can't Just 'Stop Printing Money' to Get Inflation Down

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