Author: Sollcrypto
A prominent political figure believes that inadequate regulation of cryptocurrencies in Russia is “eroding the government’s endeavors to combat” Western economic sanctions. According to the media source RBC, Andrei Lugovoy, the First Deputy Chairman of the State Duma’s Committee on Security and Anti-Corruption, described Russian cryptocurrency policy as ranging from “poor to abhorrent.” Legislator Expresses Frustration Over Inadequate Russian Cryptocurrency Policy Lugovoy addressed a cryptocurrency forum arranged by the same media outlet, RBC. The publication asserted that speakers at the event presented “several noteworthy statements and evaluations of the present legal status of the mining and digital assets industry in…
Despite mainstream media reports suggesting the demise of NFTs, a CryptoPunks collector, identified as Gmoney, has taken a bold step to prove their value. Speaking on Rug Radio’s live “FOMO Hour” show, Gmoney, the pseudonymous founder and CEO of connected fashion brand 9dcc, shared his decision to secure a seven-figure loan using one of the rarest assets from the prominent CryptoPunks profile picture (PFP) collection. In response to skepticism about the worth of NFTs, Gmoney expressed his desire to challenge the narrative, stating, “What better way to show that these are not worthless if I can get a million-dollar loan…
The count of Bitcoin ($BTC) whale wallets has been increasing, reaching its peak since November 2022. This surge coincides with significant cryptocurrency investors capitalizing on the recent stability of Bitcoin, which has been hovering between the $41,000 to $44,000 range. Santiment, an on-chain analytics firm, reports that within this range, the number of wallets holding 1,000 to 10,000 BTC has surged to 1,958, marking the highest level observed since November 2022. Concurrently, the number of wallets containing 100 to 1,000 BTC has decreased to its lowest point since the same period. During a period in which a crucial price indicator…
Ethereum is facing downward pressure, observing a decline in spot rates. Concurrently, investors are delving into Borroe Finance (ROE), as its presale is currently underway. Ethereum’s value decreases to $2,200. On January 12, Ethereum experienced a retracement from $2,700, declining and establishing support at $2,200. Indications of a potential recovery are present, though the duration of this upward movement remains uncertain. As outlined by a prominent trader, Ethereum currently stands at a crucial juncture, and its forthcoming trajectory hinges on whether it can maintain a position above or dip below the $2,200 threshold. In the preceding week, ETH witnessed an…
A Solana-based altcoin experienced a surge of over 42% this week following the announcement of Binance adding spot trading support for the digital asset. Pyth Network (PYTH), an oracle network designed to deliver real-time financial data to smart contracts and decentralized applications (DApps), saw its native token, PYTH, reach a seven-day high of $0.539, marking a 42.59% increase from its weekly low of $0.378. Currently ranked 96th by market cap, PYTH has retraced from its recent peak and is trading at $0.461 at the time of this writing. On Friday, Binance introduced spot trading support for the altcoin, attaching a…
Bitcoin (BTC), the leading cryptocurrency in market capitalization, concluded January above the $40,000 mark, indicating favorable price performance. Nevertheless, market analyst Justin Bennett posits that the bottom for Bitcoin has not been reached. Bennett’s analysis underscores the potential for additional price declines, with the USDT dominance chart of Tether’s stablecoin (USDT.D) suggesting the likelihood of downward movements. BTC’s Price Faces Concerns as Tether Dominance Signals Worries Bitcoin’s recent rebound in price, surpassing the $40,000 threshold, has instilled optimism among investors. Despite this, Bennett suggests that additional price drops may occur, potentially following a retest of the mid $44,000 range. Bennett…
Recent data reveals that decentralized exchanges (DEXs) on the Solana blockchain have outperformed Ethereum in a critical metric, generating optimism and expectations for the Solana (SOL) ecosystem. Decentralized exchanges (DEXs) on Solana surpass Ethereum in performance. As per DeFiLlama data, decentralized exchanges (DEXs) on Solana have exceeded Ethereum in daily trading volume. In the last 24 hours, Solana recorded a trading volume of $1.14 billion, surpassing Ethereum DEX’s $1.133 billion. This milestone was first achieved in December 2023, when Solana’s daily DEX volume reached $1.475 billion, outpacing Ethereum’s $1.164 billion, sparking increased interest among traders in the SOL ecosystem. Solana…
According to a core developer of Ethereum, staking Ether (ETH) from home should be considered the benchmark for staking, presenting families with the potential to establish “atomic generational wealth.” In an interview with Cointelegraph, Superphiz, a core developer and founding member of the ETHStaker Community, emphasized that setting up a home validator could lead to the family operating and securing the network for over a century. Superphiz, who has previously advocated for solo-staking, renewed the “#stakefromhome” campaign last week, particularly in response to Geth, one of the network’s execution clients, reaching an 84% network share among Ethereum validators. The apprehension…
As of January 31, Coinbase and Ripple stand out as major contributors to a super PAC dedicated to supporting pro-crypto politicians, as reported by Bloomberg. According to spokesperson Josh Vlasto, Coinbase has allocated $24.5 million to Fairshake, with an additional personal contribution of $1 million from Coinbase CEO Brian Armstrong. These donations collectively represent about one-third of Fairshake’s total funds, amounting to $85 million. Furthermore, Ripple has made a significant contribution of $20 million to Fairshake, as disclosed by Vlasto. Notably, venture capital firms Andreessen Horowitz (a16z) and Electric Capital have also played a role, contributing $20 million and $500,000,…
The native token of the Ethereum-based Ronin Network, RON, continued its recent upward trend on Wednesday, reaching a nearly two-year high at $2.89, as reported by CoinGecko. With a 5% increase on the day and a 57% surge over the past 30 days, Ronin, an Ethereum sidechain tailored for crypto games, has witnessed growing popularity and momentum. Part of this momentum is attributed to the success of Pixels, a social farming game that migrated from the Ethereum scaler Polygon last fall. The play-to-airdrop campaign of Pixels, rewarding top players with PIXEL tokens, contributed to the increased user activity on the…