Russia will start to purchase Chinese yuan for its international reserves as soon as this month, according to reports from Russian economists. While analysts state that the purchases will be small and symbolic in the beginning, these will supposedly demonstrate a turnaround in the economy of the country. Russia to Purchase Chinese Yuan for Reserves
Bitcoin (BTC) reclaimed $29,000 overnight into May 4 as the United States banking crisis risked spawning new victims. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Gold, Bitcoin benefit from U.S. banking mayhem Data from Cointelegraph Markets Pro and TradingView tracked a swift mood change for BTC/USD, which hit $29,242 on Bitstamp. The pair had sunk
A new Cosmos-based blockchain called “Tenet” will use liquid staking coins from other networks to secure its transactions, potentially allowing the new network to inherit the security of older ones, according to a May 3 announcement from the developers. The network is currently available as a testnet and will launch a mainnet version as soon
Decentralized finance (DeFi) protocol Curve Finance has launched its native algorithmic U.S. dollar-pegged stablecoin, dubbed “crvUSD” on the Ethereum mainnet — minting more than $22 million worth of the crvUSD so far. According to data from blockchain explorer Etherscan, the contract has minted more than $22 million worth of crvUSD in the past 8 hours,
Nigeria, known to be one of the world’s most curious nations about cryptocurrencies like Bitcoin (BTC), has approved the National Blockchain Policy for Nigeria during its meeting on May 3, 2023. The approval was in response to a memo presented by Professor Isa Ali Ibrahim (Pantami), the Honourable Minister of Communications and Digital Economy. The
New meme-coin Pepe (PEPE) has entered a sharp correction phase after surging by more than 2,000% since its debut a few weeks ago. On May 3, the PEPE price dropped to $0.00000089, down about 35% from its record high of $0.00000138 established two days ago. As a result of the correction, its market capitalization slipped by nearly
Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in particular, has been on an upward trajectory, having risen by 3.4% in the past month
Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in particular, has been on an upward trajectory, having risen by 3.4% in the past month
Layer-1 Ethereum Virtual Machine (EVM) blockchain platform Flare has integrated its application programming interface (API) portal on Google Cloud Marketplace, onboarding a number of significant blockchain APIs to the ecosystem. The integration of Google Cloud Marketplace will provide high-integrity blockchain data from Flare nodes and connected chain nodes to a large pool of developers and
Securities token platform INX has launched a wallet with compliance features for institutions, according to a May 3 announcement. The new wallet was created in partnership with wallet infrastructure provider BitGo and uses multi-party computation (MPC) technology. Exciting announcement! INX now collaborates with @BitGo to enable institutional #investors to fully and confidently participate in the
The former OpenSea manager who was accused of insider trading of NFTs has been convicted on May 3 of wire fraud and money laundering in a New York federal court, according to a report from Reuters. According to prosecutors, Nathaniel Chastain, a former Product Manager at OpenSea, was in charge of choosing which NFTs would
Summary: Daily unique addresses on Ethereum Virtual Machine-compatible chains set a new all-time high of 6.77 million last week. Experts and on-chain say expensive gas fees pushed more users to leverage EVM-chain like BNB Chain, Polygon, Fantom, and Avalanche. The hike in gas fees coincides with the Pepe and meme coin fever spreading through the
OpenSea’s former product manager Nate Chastain has been convicted of wire fraud and money laundering. A federal jury in New York found Chastain guilty of using insider information to trade NFTs. The former executive faces up to 40 years in prison for netting $50,000 from his insider trading scheme. Nate Chastain, the former Product Manager
Litecoin (LTC) can make some big gains versus Bitcoin (BTC), particularly as the August halving event gets closer, according to Litecoin’s creator Charlie Lee. Litecoin up 85% since record lows versus Bitcoin Lee argues that LTC/BTC could rally to 0.025 BTC, or over 700%, in the next bull cycle, with Litecoin having “higher throughput by design, scalability
Investors seem to have priced in a 25 basis points rate hike by the United States Federal Reserve on May 3. Next, they will look for clues on the Fed’s actions for the rest of the year. Will the Fed maintain its hawkish stance as inflation still remains well above its target range or will
The Bitcoin price successfully defended the $28,000 support on May 2, but it has yet to prove the strength needed to reclaim the $29,200 level from April 30. $30K becomes crucial for Bitcoin bulls Some analysts will pin the recent downtrend on the expectation of an interest rate increase by the United States Federal Reserve
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