[ad_1] The crypto market's woes continue to grow stronger and more oppressive, as the industry’s almost $3 trillion market cap has fallen to under $1 trillion. With the downtrend picking up more steam, bitcoin, ethereum and other altcoins are struggling to maintain themselves. In November of last year, the entire crypto market was at a market cap high of $2.8 trillion. However, in just six months, this value has plummeted.
[ad_1] On Tuesday, tokens of cloud blockchain infrastructure provider Chain.com (XCN) suddenly lost over 90% of their value before recovering most of their losses later in the day. In a post-mortem analysis published by Chain.com, the firm said that a market maker and API error at 01:00 SGT began to cause XCN to drop in large percentiles. As the event took place, corresponding bids became stuck via API orders, causing
[ad_1] According to an 8-K filed on Tuesday June 14, one of the world's largest cryptocurrency startups, Coinbase, is laying off nearly 18 percent of its personnel. This comes as the crypto market continues to be battered by prospects of more aggressive Federal Reserve interest rate hikes. According to the filing, the reduction will reduce the company's staff by 1,100 individuals, bringing the total to 5,000 by June 30. According
[ad_1] Optimism token was attacked earlier this week after the team announced that 20 million OP tokens were stolen. On Friday, the attacker behind the theft returned 17 million tokens. For returning the tokens, the attacker was rewarded with 2 million of the tokens. The funds were returned over the course of 17 transactions to an address belonging to Optimism, the Ethereum rollup provider. Before the return of the tokens, the attacker sent an on-chain message
[ad_1] After the proposition of the Lummis/Gillibrand new crypto bill seeking to transfer much of crypto regulation to the CFTC, the chairman of CFTC, Ross Benham, has said that his agency is set to move further into the cryptocurrency regulatory space. Ross said one of the goals of CFTC would be to define which cryptos would come under its jurisdiction. The new crypto bill, which is still very much a proposal,
[ad_1] Hardware cryptocurrency wallets are known for granting users full control of their crypto and providing more security, but such wallets are prone to risks such as theft, destruction or loss.Does that mean that all your Bitcoin (BTC) is lost forever if your hardware wallet is lost, burned or stolen? Not at all.There are a number of options to restore cryptocurrency for someone who has lost access to their hardware wallet.
[ad_1] One of the most popular crypto startups, OpenSea, has recently come under fire for stolen and plagiarized nonfungible tokens (NFTs).In light of the growing number of NFT scams, OpenSea has announced the launch of a new feature that will automatically hide suspicious NFT transfers from view on their marketplace. This will help to protect users from being scammed and ensure that only legitimate transactions are visible.According to a blog post on
[ad_1] Illicit cryptocurrency activity in 2021 and the first quarter of 2022 has declined as a percentage of overall crypto activity, according to blockchain forensics firm CipherTrace.The cryptocurrency industry has long held a reputation in some jurisdictions as a haven for illegal activity. However, CipherTrace estimates that illicit activity was between 0.62% and 0.65% of overall cryptocurrency activity in 2020. The firm reported that it has now fallen to between
[ad_1] A crypto bear market is characterized by falling prices and a significant drop in cryptocurrency market capitalization. This means that a bear market has occurred when the total value of all cryptocurrencies falls below $200 billion. Bear markets can last for days or months but always end with a bull run. This is where the crypto market's relative youth makes things challenging. Economists, analysts, and traders in the stock
[ad_1] Researchers at the federally funded Lawrence Livermore National Laboratory in California have combined statistical mechanics and information theory to design a class of stablecoin dubbed the Electricity Stablecoin (E-Stablecoin) that would transmit energy as a form of information. Livermore’s Maxwell Murialdo and Jonathan L. Belof say their innovation would make it possible to transmit electricity without physical wires or a grid and create a fully collateralized stablecoin pegged to
