Decentralized exchanges aren’t ready for derivatives

If the words “derivatives trading” conjures up images of men in suits with disheveled white sleeves rolled up to the elbows and exacerbated expressions on their faces — like something out of The Big Short — then the word decentralized exchanges (DEXs) must conjure up, well, nothing.  There are no offices, no floor traders waving papers and certainly no men in suits. DEXs are managed automatically or semi-automatically with the involvement of platform participants in the process of making mission-critical decisions. DEXs are a bulb of a system that is…

VanEck’s Bitcoin spot ETF shunt solidifies SEC’s outlook on crypto

Bitcoin (BTC) has been on an impressive price run since the announcement of the United States Securities and Exchange Commission’s approval of ProShares’ Bitcoin futures exchange-traded fund (ETF) early in October, hitting a new all-time high of over $69,000 on Nov. 10, as per data from TradingView.  However, the financial watchdogs soured the mood by rejecting VanEck’s proposal for a spot ETF on Nov. 12, which acted as a trigger for the price of the flagship cryptocurrency to drop to a 30-day low of $55,705 on Nov. 19. The token…

Seeing red? FUD that! Here’s what you should have bought instead of Bitcoin last week

We’ve argued many times in the past that the correlation between Bitcoin’s price and the market capitalization of hundreds of altcoins makes very little sense. Whether you buy into the idea that Bitcoin is digital gold, or a payment mechanism, or both, it doesn’t have a whole lot in common with Ethereum, Shiba Inu, or FTX’s native exchange token. Well, whether we like it or not, big moves in the price of Bitcoin define crypto markets. Before Bitcoin slid from the latest all-time high above $68,000 back to the region…

The three traits of Web 3.0 that fix what went wrong with today’s internet

Blockchain tech has come a long way. It wasn’t that long ago that crypto remained at the fringes, evangelized by a vocal minority. The narrative shifted once the COVID-19 pandemic pushed people into their homes with plenty of time to dive into new interests. Crypto benefited from the increased attention, entering everyday conversations among friends, family and colleagues. Even so, it’s still early in crypto. Widespread adoption remains elusive and traditional tech gatekeepers maintain their grip on the digital economy. To loosen that grip, those of us building the decentralized…

ZEC price jumps 20% in one day as Zcash devs unveil transition to Proof-of-Stake

Zcash (ZEC) surged by nearly 20% in the past 24 hours, helped by the euphoria surrounding its core protocol’s decisive transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS). The ZEC price logged an intraday high at $188.80 on Binance after rising two days in a row by more than 27%. The cryptocurrency’s move upside also wiped out a big portion of the losses it had faced earlier this week, in the wake of a downside retracement across the crypto market.  ZEC price jumped after the cryptocurrency’s main developer, Electric Coin Company (ECC),…

NFT Projects Enjin, Immutable X Soar Despite Market Dip

Key Takeaways The NFT projects Enjin and Immutable X have posted double-digit gains, with Immutable X hitting a new all-time high today. Enjin is up more than 50% over the last four days. Meanwhile, Immutable X has risen by over 70% within the same period. Share this article Many Metaverse-themed assets in the crypto market have posted significant gains since Facebook announced it would be rebranding to Meta to focus on building out virtual reality worlds. The NFT-focused projects Enjin and Immutable X are the latest to benefit from the…

Bitcoin bulls in City Hall: Meet America’s crypto mayors

As 2021 comes to a close, Bitcoin (BTC) has had a tumultuous ride this year, with wild price swings that have seen the pioneer cryptocurrency hit all-time highs only to retrace to lower prices — including a 50% drop that shook the market. Now, Bitcoin is once again back and stronger than ever, even recently going past its previous all-time high. Bitcoin’s dizzying market price swings aside, it seems some politicians have recognized Bitcoin’s potential, with a wave of mayors across the United States expressing bullish sentiments. From Florida to…

Music Marketplace Nina Wants to Be a Bandcamp for Web 3.0

For years, crypto believers have been trying to put music “on the blockchain.” And while start-ups and investors say there’s potential, many artists – at least so far – remain unconvinced. Some services have taken a shot, but most are geared toward artists already immersed in blockchain tech. What about musicians who are put off by crypto, who just want to get paid for their work? Enter Nina, a new digital marketplace for music in the vein of Bandcamp and Discogs. Spearheaded by Mike Pollard, formerly of Arbor Records, it…

What Billions of Dollars in Crypto Fundraising Says About the Bull Market

This episode is sponsored by NYDIG. Download this episode From $400 million to a crypto exchange to $2.5 billion for the biggest crypto fund in history, NLW tells the story of this week’s big fundraising events by the numbers. See also: Polkadot Parachain Auctions: Acala Wins Neck-and-Neck Race With Moonbeam “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Michele Musso & Adrian Blust, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our…

Foundry USA becomes second-largest Bitcoin mining pool amid China ban

New York-based crypto-mining service provider Foundry USA takes the lead to become the world’s second-largest Bitcoin (BTC) mining pool after taking up a 15.42% share of the network. Data from BTC.com shows that Digital Currency Group-owned Foundry USA stands behind the pool leader AntPool by a hash rate of just 4,000 PH/s, which contributed to a 17.76% network share at the time of writing. The rise in the participation of American entities can be attributed to China’s recent blanket ban on crypto trading and mining activities. The ban forced a…