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Join Our Telegram channel to stay up to date on breaking news coverage Crypto project EOS has been working on developing an EOS Ethereum Virtual Machine (EVM) feature for some time now, and according to a recent announcement, the feature is almost ready for the mainnet . The mainnet deployment is expected to come at some point next month. For now, however, the project has entered the final stage of testing by launching the EOS EVM on a testnet this Tuesday, March 28th. The project’s EVM solution is currently housed in one of the EOS smart contracts. Its goal is to offer transactions performed at high speeds and with very cheap fees, both for users and developers alike. The idea is to eventually bolster the development of decentralized finance within the EOS ecosystem, which would ultimately accrue value for the project’s native coin. #EOS EVM is by far the industry's leading EVM. Single second block times offers the optimal combo of speed and compatibility. Don...

Texas Bitcoin miners have cut back 90% of their operations during the energy crisis after the state offered $31.7 million in energy credits.  Amid an escalating power crisis driven by extreme weather conditions, Texas has turned to an unlikely ally for energy conservation: Riot Platforms, a major Bitcoin (BTC) mining firm. The state’s power grid operator has awarded Riot Platforms $31.7 million in energy credits for reducing electricity consumption during the ongoing heat wave. The sum eclipses the $9.7 million worth of Bitcoin the company mined in the same period. The credits are commissioned by the Electric Reliability Council of Texas (ERCOT), and it will alleviate immediate stress on the grid while simultaneously lowering Riot’s operational costs.  Riot Produces 333 Bitcoin While Realizing Expanded Benefits of Power Strategy. “August was a landmark month for Riot in showcasing the benefits of our unique power strategy,” said @JasonLes_ , CEO of Riot. ...

On the higher-timeframe charts, Ethereum does not seem to be out of the bearish woods yet. The asset’s price is currently trading within a rising wedge and is being accompanied by declining volume. From a technical perspective, this is bearish in nature and signals that a breakdown could be on the cards for the asset. ETH/USDT by TradingView However, Ethereum has managed to initiate a mild recovery over the past few hours. From its wick low of $1609 registered a day ago, the asset’s price is up by more than 2% already. Thus, ETH could sideline its bearish bias over the short term and initiate a bounce back from the lower trendline of the setup. If ETH stays above the current level during the weekend, then it could rise up to 19% over the next few days. However, it will first have to clear the $1789 resistance. Also Read: Binance Coin Hovers Above $200: BNB Smart Chain Users Rise 40% Nevertheless, if ETH is not able to hold its ground over the weekend, then the...

Thailand’s new government is utilizing blockchain and crypto wallets to disburse $280 cash handouts to citizens. According to a report on Sept. 7, Thailand’s newly appointed government, Pheu Thai, is gearing up to utilize digital ledger technology to facilitate its economic stimulus initiative. Although specifics are yet to be revealed, it has been confirmed that the financial aid, amounting to 10,000 Thai baht (approximately $280), will be orchestrated through a blockchain system, ensuring high security and full traceability of the transactions. At this stage, whether the government will employ an existing blockchain solution or develop a bespoke system for this initiative remains unclear. Beneficiaries of this scheme will receive a digital wallet , which will be operational for six months, allowing them to make purchases at local establishments within a four-kilometer radius of their registered residences. This move is anticipated to bridge the gap in digital money...

The founder of Into The Cryptoverse tweeted today that MPT theory suggests XRP is currently not a good cryptocurrency to hold. At press time, XRP was trading at $0.5012 after it had suffered a 24-hour loss of 0.30%. A positive trend line formed on XRP’s chart which suggested that it may challenge a key resistance level soon. The founder of Into The Cryptoverse, Benjamin Cowen, tweeted earlier today that Modern Portfolio Theory (MPT) suggests that a portfolio which maximizes an investor’s risk-adjusted returns comprises only 1% of Ripple (XRP). In the post, he shared that the ideal portfolio is 72% Bitcoin (BTC), 27% Ethereum (ETH) and 1% XRP. If you add #XRP, MPT says the portfolio that maximizes the Sharpe Ratio is: 72% #BTC 27% #ETH 0% #LTC 1% #XRP pic.twitter.com/dTe44dEWDy — Benjamin Cowen (@intocryptoverse) September 7, 2023 Meanwhile, the cryptocurrency market tracking website CoinMarketCap indicated that XRP was changing hands at $0.50...

The latest burn gave some relief to the crypto community amid a continued decline in the LUNC burn rate, with the weekly LUNC burn chart almost appearing flat. advertisement Cremation Coin Burned Over 24 million Terra Classic Tokens As per the burn transaction, Cremation Coin sent 24.04 million LUNC tokens to the burn address on April 25. Also, the transaction fee for the transfer was 48k LUNC . Cremation Coin took to Twitter to announce the latest burn and shared the details of the transactions of both LUNC and CREMAT burns. While other projects and validators have stopped contributing to the LUNC burn campaign to reduce the circulating supply, Cremation Coin burned 24 million LUNC tokens. The total LUNC burns by the Terra Classic community reached 53.45 billion LUNC , with Cremation Coin contributing 368.95 million LUNC in total. However, the drop in the LUNC burn rate as well as the prices raised some concerns for the community. Tr...

Binance Announces Cardano, Polygon, and Other Crypto Removal Crypto exchange Binance in an official announcement on September 6 revealed the plan to remove and cease trading on 20 spot trading pairs. Binance periodically adds and removes crypto from its products and services. However, the U.S. SEC and CFTC lawsuits and regulatory challenges have forced Binance to make these changes more frequently. advertisement “To protect users and maintain a high quality trading market, Binance conducts periodic reviews of all listed spot trading pairs, and may delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume.” Binance to remove Cardano (ADA), Polygon (MATIC), and Zilliqa (ZIL) against BIDR pairs on September 8 at 09:00 UTC. In addition, the exchange will delist AUDIO/BUSD, BAT/BUSD, BSW/BUSD, CITY/BUSD, CVX/BUSD, FORTH/BUSD, JUV/BUSD, MOB/BUSD, OGN/BUSD, OMG/BUSD, PLA/BUSD, POLS/BUSD, REI/BUSD, RSR/BUSD, SC...

FTX, the defunct crypto exchange, has been consolidating coins as part of efforts to settle over $8 billion in debt owed to customers and creditors following its bankruptcy in November 2022. The bankrupt exchange is in the process of bridging several digital assets to their native blockchain networks, FTX shared in an update via X (formerly Twitter) on Sep. 6. Additionally, they plan to move their holdings of Solana (SOL) and other virtual currencies from their reserves to BitGo. FTX has been actively bridging tokens from various blockchains back to their native blockchains. FTX also has been in the process of migrating SOL and other tokens from existing wallets to BitGo, FTX’s qualified custodian. — FTX (@FTX_Official) September 6, 2023 A court appointed BitGo as FTX’s official custodian following a filing on Nov. 24, 13 days after the crypto exchange declared bankruptcy and founder Sam Bankman-Fried (SBF) resigned as chief executive officer (CEO). You might also l...

Web3 LinkedIn As A New Crypto Startup Idea Armstrong’s declaration follows his vision for the crypto future, which he revealed in a business blog post and presentation on August 30. He discussed numerous concepts that have the potential to alter the digital asset market in this vision, highlighting the significance of a healthy ecosystem outside of Coinbase ’s core offerings. advertisement The construction of a Web3 version of LinkedIn, where corporations can issue soul-bound NFTs to validate employment and qualifications, is a standout among Armstrong’s latest ideas. This innovation has the potential to replace existing resume verification processes by providing a secure and transparent method of certifying professional qualifications. Armstrong sees this project as having multiple components, including the development of a user-friendly interface for exploring employee and employer profiles. Building a network effect, a crucial aspect of any s...

“It’s reckless not to aggressively accumulate BTC at current levels,” K33 senior analyst Velte Lund said in a recent report. The potential of a spot Bitcoin (BTC) exchange-traded fund (ETF) approval to drive prices up is dramatically underestimated by the crypto market , claim analysts from crypto research firm K33 — formerly Arcane Research.  In a Sept. 5 market report, K33 senior analyst Vetle Lunde and vice president Anders Helseth said the last three months had greatly improved the chances of a spot Bitcoin ETF approval despite the sentiment not being reflected in the price of Bitcoin or other mainstay crypto assets. The analysts explained while Bitcoin had all but given up its gains in the wake of Grayscale’s legal victory over the Securities and Exchange Commission — an approval would “attract enormous inflows” and significantly increase buying pressure for Bitcoin. Bitcoin returned its gains in the wake of Grayscale's victory. Source: K33 Research However, the downside of ...

Circle has introduced support for its USDC stablecoin on two of Ethereum’s most prominent layer 2 scaling solutions – Optimism and Base. Businesses and institutions can now access on/off ramps for USDC on both the Optimistic Ethereum (OP) mainnet and Base Layer 2 using Circle Account. This makes depositing and withdrawing USDC across different chains simple, avoiding costly “lock and mint” bridging. Also read: Ripple: Report Shows XRP Stumbling Despite Positive Court Ruling Developers can leverage native USDC to build applications on a stable foundation with official Circle backing on these scaling platforms. Their improved throughput and lower costs unlock new use cases for USDC. 1/ It’s here. #StableSeptember. The day you’ve all been waiting for – what comes first? How about two launches on the same day? Introducing $USDC on @optimismFND and USDC on @BuildOnBase, two leading L2 scaling solutions for Ethereum built on the ...

Ethereum co-founder Vitalik Buterin says node centralization is one of Ethereum's main challenges but the perfect solution may not come for another 20 years. The centralization of nodes is one of the biggest problems facing the Ethereum network and should be addressed by making the running of nodes cheaper and easier , according to Ethereum co-founder Vitalik Buterin. At current, the majority of the 5,901 active Ethereum nodes are being run through centralized web providers like Amazon Web Services (AWS), which many experts claim leaves the Ethereum blockchain exposed to a centralized point of failure. Distribution of Ethereum nodes from web service providers. Source: Ethernodes Speaking at Korea Blockchain Week, Buterin outlined six key problems that need addressing to solve centralization but highlighted that the node issue was a “big piece of the puzzle” to ensure the Ethereum network remains decentralized in the long run. “One of those six things is making it technically ...

Binance product lead Mayur Kamat says he is passing the baton to “next-gen leaders” to take some time off after years of product work. Cryptocurrency exchange Binance continues to lose some of its key executives amid increasing scrutiny of the platform from regulators around the world. Binance head of product Mayur Kamat has confirmed he is leaving the crypto exchange after nearly two years. “It is time for me to step down and transition product leadership to Binance’s next-gen leaders. I have worked closely with product leads to ensure a seamless transition,” Kamat told Cointelegraph on Sept. 4. Kamat also said that it is a good time for him personally to take some time off after 20 years of “non-stop product work.” He added: “It has been an experience of a lifetime working at Binance and seeing our user base grow. Thanks to [Changpeng Zhao] CZ and the entire leadership team for this amazing opportunity. I will be cheering Binance from the sidelines.“ Formerly a product manager...

Moreover, Santiment, a market analytics firm, points to an even brighter future for XLM. They hint at the possibility of a “larger breakout,” making Stellar a hot topic among market analysts and investors. advertisement Stellar’s Mysterious Announcement Adds Fuel  Earlier this month, Stellar ramped up excitement by hinting at a “massive reveal” scheduled for September 12—the cryptic social media message—”Gear up for a change that has us all thrilled. Stay on your toes”—has left many intrigued and speculative.  Besides the teasing announcement , Santiment highlights that XLM is an asset consistently shorted by the crowd. Therefore, ongoing liquidations could push the asset’s price upward, offering a growth catalyst. This move adds another layer to the market’s growing fascination with Stellar and the upcoming announcement. XLM/USD Market Analysis Bullish momentum has prevailed over...