Author: Coin Telegraph
Bitcoin’s rally shows no signs of slowing as it edges toward $90,000 in what is shaping up to be its best weekly run since the United States banking crisis in 2023.The Bitcoin (BTC) price surpassed the $85,000 record high on Nov. 11, but just as a temporary pit stop. The world’s first cryptocurrency is trading at $88,879 as of 8:14 am UTC, up over 29% during the past week, Cointelegraph data shows.BTC/USD, 1-month chart. Source: CointelegraphThe nearly 30% weekly return marks Bitcoin’s best seven-day period since the US banking crisis in 2023, according to Vetle Lunde, the head of research…
An Ethereum researcher’s social media post sparked speculation about a potential solution for the layer-1 blockchain’s scalability challenges.On Nov. 11, Ethereum researcher Justin Drake posted on X that he would announce an “ambitious” initiative for Ethereum. Drake said he had contemplated a “from-scratch” redesign of the Ethereum consensus layer, which some interpreted as a step toward solving its scalability issues.Source: Justin DrakeThe researcher said his goal was to suggest a strategy to ship a Beacon Chain road map. He is expected to share the proposal at Devcon in Bangkok, Thailand, on Nov. 12.Community speculates about ETH 3.0Following Drake’s post, rumors…
A crypto memecoin investor holding Gigachad (GIGA) tokens has lost $6.09 million in a phishing attack involving a fake Zoom meeting link.On Nov. 12, GIGA recorded an unusual price drop triggered by a massive sell-off event. Soon after, a prominent pseudonymous GIGA investor ‘Still in the Game’ proactively alerted against the involvement of a hacker:“Just want to be transparent – the massive sell on $GIGA today was due to one of my wallets being drained by a fake Zoom link. This hurts bad but I will be back. I will always stay in the game.”According to crypto investigation firm Scam…
Donald Trump’s victory in the United States presidential election on Nov. 5 could pave the way for more diversified cryptocurrency financial products — specifically for the world’s second-largest cryptocurrency, Ether.Trump won the presidential election held on Nov. 5, which is seen as a net positive for crypto regulations over the next four years.A Trump administration will likely embrace more crypto industry innovation, including the debut of the first staked Ether (ETH) exchange-traded fund (ETF), according to Edward Wilson, an analyst at Nansen.The analyst told Cointelegraph:“As the regulatory environment will likely be pro-crypto, we may even see a staked ETH ETF…
The United States spot Ether exchange-traded funds (ETFs) recorded their biggest day of inflows in history, as the crypto market continues to rally after Trump’s election victory. The ETFs, which launched in July, recorded $294.9 million in inflows on Nov. 11 — smashing the previous record of $106.6 million on launch day. The Fidelity Ethereum Fund (FETH) led the pack with $115.5 million in inflows — a record for the fund — while the BlackRock-issued iShares Ethereum Trust ETF (ETHA) was second with $100.5 million, according to Farside Investors and preliminary data from crypto news aggregator Tree News.The Grayscale Ethereum Mini Trust…
A fake app impersonating the popular decentralized finance (DeFi) platform Curve FInance has resurfaced on Apple’s App Store for the third time this year, targeting unsuspecting users again.Despite previous warnings and removals, the app continues to make its way onto the App Store, attracting downloads and ranking high in finance categories across multiple regions.Disguised as a legitimate tool on the store built for token swaps and liquidity staking, the app has led to many reports of financial losses and security concerns from user reviews.Babu Lal, co-founder of India-based cybersecurity firm Frautect, informed Cointelegraph of the scam app, stating that this…
Magic Labs and Polygon Labs announced a crosschain smart wallet as protocols move to address liquidity fragmentation in the blockchain space. According to a Nov. 7 announcement, the companies launched the Newton testnet, a wallet solution for the crosschain settlement layer AggLayer. The solution promises to enable liquidity sharing across multiple blockchains, “like how HTML or HTTP introduced standards to create a seamless internet experience.”Newton is built with Polygon CDK — or cloud development kit — and plans to offer chain-abstracted smart wallets, free tooling, access to global liquidity and cross-chain launches from “a single command line.”Liquidity fragmentation occurs when assets…
Crypto traders betting on a market drop were hit with major liquidations as Bitcoin surged to an all-time high above $81,000, causing widespread losses in short positions.CoinGlass data showed that in the last 12 hours, about $180 million in short positions were liquidated across the crypto market.Bitcoin (BTC) has continued to rally in the wake of President-elect Donald Trump’s US election win, spiking more than 6% to an all-time high of $81,358 on Nov. 10, according to CoinGecko.In the last 12 hours, about $180 million in short positions were liquidated from the crypto market. Source: CoinGlassBitcoin shorters were the hardest…
Ethereum’s network revenues are poised to rebound as surging activity on layer-2 (L2) scaling networks drives demand for data storage, according to cryptocurrency researchers and onchain data.In November, Ethereum L2s have been posting upward of three times more transaction data each day to the mainnet than they did in March, according to data from Dune Analytics. Ethereum’s revenues dropped by as much as 95% after the network’s March Dencun upgrade migrated L2 transaction data to temporary offchain stores called “blobs” in a bid to cut costs for users, according to data from asset manager VanEck.“ETH Fees Were Weak Due to…
Donald Trump’s election victory in the United States is unlikely “the main story” behind Bitcoin’s recent pump — with an analyst pointing instead to a post-halving supply shock. “If you’re wondering what’s happening with #Bitcoin… Yes, the incoming Bitcoin-friendly administration has provided a recent catalyst… But, that’s not the main story here,” said Onramp Bitcoin co-founder Jesse Myers in a post on X on Nov. 11. “The main story here is that we are 6+ months post-halving.”The Bitcoin (BTC) halving in April cut block rewards from 6.25 BTC to 3.125 BTC, which means every next block becomes harder to solve for less…