BLOCKCHAIN

DeFi Lending Attracts VC Backing Despite Sharp Drop in Crypto Fundraising

[ad_1] A report published by venture capital research firm, Ana.vc, has revealed a 57% decline in crypto funding from VCs over the month of April.Despite the decline in overall investment, the decentralized lending sector appears to still be flourishing — raising 150% of its March total.Crypto fundraising plummets during AprilThe report excludes Bakkt’s raise, identifying 32 disclosed deals valued at nearly $50 million in total, down from $117 million last
BLOCKCHAIN

Web3 Foundation Holds Off on 100x Polkadot Redenomination

[ad_1] The Web3 Foundation has pushed back its proposal to redenominate 100x of Polkadot’s (DOT) supply after conducting a community referendum on the Kusama network.While the referendum, dubbed a Polkassembly, largely saw support for the proposal, Web3 noted a “non-negligible amount of opposition, including from some within the ranks of Web3 Foundation and Parity.”Web3 Foundation backs off on DOT redenominationThe Web3 Foundation has announced that it “cannot, in good faith,
Business

CME Bitcoin Trading Product Records Show Institutional Participation Uptick

[ad_1] Mainstream market exchange, the Chicago Mercantile Exchange, or CME, recently posted record numbers for its Bitcoin (BTC) trading products. May 14 yielded open interest of 10,792 Bitcoin futures trading contracts at CME, totalling 53,960 BTC — an all-time high for the product, according to information a CME representative provided to Cointelegraph.  On May 4, CME also tallied 66 large open interest holders, or LOIHs — another record. These LOIH figures in particular
EXCHANGES

Bitcoin Has Breached a Key Resistance After Rallying 150% From $3,700 Lows

[ad_1] Since the lows of $3,700 in March, Bitcoin has performed extremely well. Managing to shake off the fears of a recession and potentially even a depression, the leading cryptocurrency has exploded higher from $3,700 to $10,000 just recently, outpacing every other asset class in the process. According to a top trader, the recent rally is much more important than Bitcoin’s price just rallying higher. Bitcoin Breaks Key Downtrend in
Business

Ripple Settlements Are Coming to Japanese ATMs

[ad_1] Ripple partner and investor, SBI Holdings, announced plans to integrate Ripple-powered settlements across ATMs in Japan.The news was revealed in SBI’s latest financial report, announcing a plan to integrate the Ripple-powered settlements platform MoneyTap with ATMs run by various banks across Japan.The integration is intended to provide consumers with easier access to funds at ATMs regardless of their banking affiliation.SBI to integrate Ripple tech across Japanese ATMsSBI claims that
Business

Crypto Twitter Fails to Explain Bitcoin to an Exhausted JK Rowling

[ad_1] Harry Potter author, J.K. Rowling, recently asked for an explanation of Bitcoin (BTC) on Twitter, bringing an onslaught of commentary from the crypto community. "This started as a joke, but now I’m afraid I’ll never be able to log in to Twitter again without someone getting angry I don’t own Bitcoin," Rowling tweeted on May 15, adding:   One day you’ll see a wizened old woman in the street, trying to
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Ethereum Fails to Hold Key Support, Leaving Price Open to “Larger Correction”

[ad_1] Top cryptocurrencies like Bitcoin and Ethereum may still be up by over 100% from the March lows, but it’s been a rocky past week for this nascent market. Prices haven’t crashed per se, but cryptocurrencies have begun to print technical signs on their charts indicating that more downside is likely. One analyst recently remarked that since Ethereum closed below a key support level, it is somewhat vulnerable to a
Business

Ngrave Onboards Crypto OGs As Advisors

[ad_1] Digital asset security firm, Ngrave, announced two new advisors in May so far — Michael Terpin, a pioneering crypto investor who co-founded BitAngels in 2013, and renowned cryptographer Jean-Jacques Quisquater, who is quoted in the Bitcoin (BTC) whitepaper.The appointments come ahead of Ngrave’s launch of sales for its Zero hardware wallet — which goes on sale via Indiegogo on May 26.Pioneering crypto investor Michael Terpin joins NgraveOn May 15,
BLOCKCHAIN

PlusToken Scammer Implicated in China’s Second Ten-Figure Crypto Ponzi

[ad_1] The scam, Wotoken, took in roughly $1 billion worth of crypto at current prices from over 715,000 victims.One of the scam’s core operators is purportedly linked to PlusToken — a multi-billion Ponzi that is believed to have impacted the price trajectory of Bitcoin (BTC) on numerous occasions throughout 2019.China’s second ten-figure Ponzi bustedEarlier today, Chinese media outlet, Qianba, reported that a case surrounding “super large MLM network” Wotoken had
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P2P Bitcoin Trade Volumes and Inflation in Latin America Are on the Rise

[ad_1] During the last two months since the March 12 crypto market rout, otherwise known as ‘Black Thursday,’ demand for cryptocurrencies seems to be on the rise in certain regions in Latin America. Various reports published this week have noted that countries like Colombia, Venezuela, Argentina, Chile, Brazil, and Mexico have seen significant bitcoin trade volumes. However, other reports show that even though the volumes are high in these specific