Archives: Fast News

  • LDO price rallies 85% since Ethereum announced The Merge schedule

    LDO price rallied 85% since Ethereum announced The Merge schedule

    On July 15, Ethereum developers confirmed that their network’s much-awaited transition to proof-of-stake from proof-of-work, dubbed The Merge or Ethereum 2.0, would tentatively occur on September 19.

    LDO surged nearly 25% on the day of the announcement due to its close ties to Ethereum. From the low of $0.862 on July 15 to July 18, LDO has delivered an 85% return for investors.

  • Over $160 million shorts liquidated as BTC pushes $22K, ETH above $1.4K

    Over $160 million shorts liquidated as BTC pushes $22K, ETH above $1.4K

    Over the past few days, the cryptocurrency market has gained a total of $150 billion to its capitalization, which now stands above $1 trillion. In the last 24 hours, Bitcoin has gained 3.86% to $22,279, and Ethereum grew by 8.07% to the price of $1,476 .

    This led to over $250 million in total liquidations, more than $160 million of which were short positions.

  • 51% of Saudi Arabian crypto investors believe crypto is the future of finance

    51% of Saudi Arabian crypto investors believe crypto is the future of finance

    A recently released KuCoin report found surging interest and adoption of cryptocurrencies within Saudi Arabia. It found that 76% of crypto investors in the region had under a year’s experience trading crypto, while 49% had less than 6 months of experience.

    Among investors, 51% said they saw crypto as the future of finance. 44% believed the asset class would generate higher long-term returns compared to other investment types.

  • ETC rallies ahead of Merge update on Ethereum

    ETC rallies ahead of Merge update on Ethereum

    Over the weekend, the Ethereum development team implemented a Shadow Fork testing the MEV feature and announced that Ethereum’s The Merge event would likely to take place on September 19 if there are no technical problems.

    Following the announcement, ETC has witnessed significant growth. In the last 24h, ETC has gained 18.73% to $21.38, the highest since June 8th.

  • Putin signs law banning crypto-based payments in Russia

    Putin signs law banning crypto-based payments in Russia

    Russian President Vladimir Putin signed a law on July 14 that bans the use of cryptocurrencies as a means of payment, local news media RBC reported. The law will become effective 10 days after publication in the government official gazette.

    However, the bill does not ban digital assets, which means there are other possible applications, including payments in international trade.

  • SHIBA INU (SHIB) becomes second-most held cryptocurrency by ETH whales

    SHIBA INU (SHIB) becomes second-most held cryptocurrency by ETH whales

    According to the crypto statistics portal WhaleStats, SHIBA INU (SHIB) surpassed the Silverway (SLV) token to become the second-most held cryptocurrency by the top 500 Ethereum whales.

    SHIB makes up 23.33% or $544.9 million of the Ethereum whales’ portfolio, not including ETH itself. Such an estimate means that about 49.5 trillion SHIBs are concentrated in the balance of large ETH wallets, which equals 9% of the circulating token supply.

  • Paraguay Senate approves pro-crypto bill for mining activities

    Paraguay Senate approves pro-crypto bill for mining activities

    Paraguay Senate approves pro-crypto bill for mining activities

    Paraguay’s Senate approved a bill regulating crypto mining and trading on Thursday.

    Accordingly, the Paraguay bill is tailored to maximize the total electricity supply generated from Usina and Itaipu. This could propel Paraguay to become one of the leading powers in Bitcoin mining.

  • Binance cuts investment in Sky Mavis after historic hack

    Binance cuts investment in Sky Mavis after historic hack

    Binance is no longer leading the fundraise for Axie Infinity creator, Sky Mavis, according to The Block.

    Since April, Sky Mavis has been able to both stabilize and recover funds. As a result, Sky Mavis is now in a position to cover users’ funds without significant investment from Binance. For this reason, Binance will no longer be the lead investor in Sky Mavis, according to a Binance spokesperson.

  • FTX announced a new partnership with Ledger

    FTX announced a new partnership with Ledger

    Hardware wallet manufacturer Ledger and crypto trading platform FTX are now working together to bring the best of both worlds to their users.

    With the integration of FTX services into the ‘Swap’ section of Ledger Live app, users can now swap 120+ digital assets with low fees, self-custody and world-class security. This involves a single transaction with users’ swapped funds automatically sent to their hardware wallet.

  • The Central Bank of South Africa officially considers crypto to be a financial asset

    The Central Bank of South Africa officially considers crypto to be a financial asset

    Kuben Naidoo (SARB’s deputy governor) recently stated that the institution has rewritten its position on cryptocurrency and is looking to establish a framework for crypto-related transactions to create a safer crypto environment.

    Naidoo said crypto exchanges would have to comply with exchange control laws such as anti-money laundering and counter-financing of terrorism rules. They would have to adhere to exchange contract rules, just like people who trade in any currency or make cross-border transactions.