Monthly Archives: June 2022

Ethereum price falls below $1.1K and data suggests the bottom is still a ways away

ETH price has stalled around the $1,100 level, but several data points suggest the altcoin’s sell-off is far from complete. Ether (ETH) price nosedived below $1,100 in the early hours of June 14 to prices not seen since January 2021. The downside move marks a 78% correction since the $4,870 all-time high on Nov. 10, 2021. More importantly, Ether has underperformed Bitcoin (BTC) by 33% between May 10 and June 14, 2022, and the last time a similar event happened was mid-2021. ETH/BTC price at Binance, 2021. […]

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Bitcoin Lightning Network Hackathon By BOLT FUN Begins June 16

Shock The Web 2 is BOLT FUN’s follow up to its debut Bitcoin Lightning Network hackathon held this past March, meant to on-board new builders into the ecosystem. BOLT FUN is hosting its second virtual Lightning Network hackathon beginning on Thursday, June 16. The event known as Shock The Web 2 is meant to on-board new builders into the Bitcoin Lightning Network ecosystem. The event will last four days with notable industry speakers and thought leaders and will offer up to $2,600 in prizes. BOLT FUN, a […]

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ICI Bucharest to use Elrond blockchain to develop decentralized domains and an institutional NFT marketplace

The two entities seek to enhance the integration of innovative Web 3.0 technologies in everyday use. On Tuesday, Romania’s National Institute for Research and Development In Informatics, also known as ICI Bucharest (ICI), announced that it would be building an institutional nonfungible tokens, or NFTs, marketplace and a decentralized Domain Name System. Both services will be built on the Elrond (EGLD) blockchain, which is known for its ability to speed up transactions via sharding. ICI was founded in 1970 and is currently the most institution for government-sponsored […]

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Binance CEO plans to leverage crypto winter

The boss of the world’s largest crypto exchange said we’ve been through this before as a community. Binance CEO, Changpeng Zhao, commonly known as “CZ,” said in a recent interview that a potential crypto winter is good for business. When asked how Binance will fare during the current crypto winter following reports of recruitment freezes at Gemini and Coinbase, he answered confidently. “It’s not the first time we’ve gone through a crypto winter. If we are in a crypto winter, it would be my third and Binance’s […]

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OpenSea announces migration to Seaport protocol

The firm estimated that users can save 35% on gas fees with newly optimized transaction efficiency. On Tuesday, OpenSea, the most popular nonfungible tokens, or NFTs, marketplace by trading volume, announced that it was migrating to Seaport. Among many perks, the protocol says it will feature lower gas fees, the ability to make offers on entire collections, removal of new account initialization fees and more user-friendly signature options. As told by OpenSea, users would pay 35% less for gas fees when transacting on Seaport. Based on data […]

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Binance Reveals Incident That Forced It to Freeze BTC Withdrawals

In a post-mortem issued shortly after it lifted the freeze on bitcoin withdrawals, Binance has identified the “repairing of several minor hardware failures on wallet consolidation” as the incident that ultimately forced it to pause withdrawals. To fix the problem and to stop this from recurring, Binance said it changed the logic “to only take successful UTXO from consolidation transactions or successful withdrawal transactions.” Minor Hardware Failures Binance has said bitcoin withdrawals on its Bitcoin network have resumed just hours after “a stuck on-chain transaction” forced the […]

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Brazilian Congressman Sees Bitcoin As Transformative For The Country

Brazilian congressman, Fábio Ostermann, sees bitcoin as a means to make tools of the state obsolete and allow for technology to set people free. In an episode of the “Bitconheiros” podcast with guest Fábio Ostermann, the Brazilian congressman commented — among several subjects — on Bitcoin and the adoption of decentralized technologies. This story was shared by local media outlet Boletim Bitcoin. The Brazilian member of Parliament said that technologies that promote decentralization have the potential to free Brazil, as they can make many institutions obsolete, such […]

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Iowa regulator orders BlockFi to pay $943K over alleged unregistered securities offering

The IID ordered BlockFi to pay an administrative fine as well as cease and desist “from making any untrue statement of material facts regarding securities.” The Iowa Insurance Division, or IID, a regulator responsible for many securities sales in the state, has fined crypto lending firm BlockFi more than $943,000 after it allegedly offered and sold unregistered securities. In a Tuesday announcement, the state regulator said BlockFi had “offered and sold securities in Iowa that were not registered or permitted for sale in Iowa” in addition to […]

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Celsius (CEL) price gains 600%+, but analysts cite exchange error and a massive short squeeze

CEL price abruptly rallied 600%+ on June 14, but analysts say it’s likely due to an exchange glitch or a liquidation of short traders. On June 14, discussions of Celsius continued to populate media headlines and June 14’s news involved the platform’s CEL token accruing massive gains after what appears to have been either an exchange glitch or a short-squeeze. CEL price spiked from $0.18  to $1.55 in one abrupt candle before sinking back to $0.60 within the same one-hour candle. CEL/USDT 1-day chart. Source: TradingView Currently, […]

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NFT ticketing may catch on faster in France after UEFA championship debacle

French authorities take note after fake tickets and gatecrashers spoiled the UEFA Champions League final experience for many soccer fans in Paris last month. The disorder before the UEFA Champions League final game may lead to the widespread adoption of nonfungible tokens (NFTs) for ticketing at sports events in in France. The country previously stated that it intends to use NFT tickets during the 2023 Rugby World Cup and 2024 Paris Olympics.  Mass ticket counterfeiting was one of the causes of the chaotic scene at the May […]

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