DeFi News Today Official TheBitTimes.com

Ethereum Holders Profitability Metrics According to data from crypto analytics provider IntoTheBlock (ITB), a total of 63.9% of ETH holders are currently in profit. In actual numbers, this percentage translates to a total of 63.17 million addresses active on the Ethereum network. advertisement Assets that are in losses according to the chart shown come in at 31.31 million addresses or 31.69% of the total addresses listed. While profitability and losses are the two extremes that are in the network at this time, the ITB data also shows another class of HODLers who are “at the money” or recording no losses at the time of writing. 63.9% of ETH holders are currently in profit. The bubbles below show important potential resistance/support levels for $ETH. smaller bubbles are easier to surpass when price starts moving. pic.twitter.com/guf4n5PKKH — IntoTheBlock (@intotheblock) July 31, 2023 Recommended Articles ...

A Malaysian energy supplier uncovered an illegal cryptocurrency mining operation that was stealing power from the local grid on the island nation of Borneo. Authorities in the town of Miri on the island of Borneo shut down an illegal cryptocurrency mining operation and seized equipment following a tip off from the public. According to local news outlet Borneo Post, Sarawak Energy discovered the operation, which included 34 cryptocurrency mining servers that were operating using stolen electricity through cable tapping. Authorities seized all the equipment used in the operation, including servers and tapping cables, while local police are now investigating the latest mining operation to be taken down on the island. Cryptocurrency mining servers found at a shophouse in Marina Square, Miri. Source: Borneo Post Sarawak Energy estimated that the operation was utilizing around 6,000 ringgit a month ($1300) worth of stolen electricity. An announcement from the utility noted that although S...

Bounce Finance is thrilled to announce its integration with Rollux , a revolutionary EVM Layer-2 solution developed by SYS Labs, heralding a new era of decentralized finance (DeFi). Both the Rollux ecosystem and Bounce community can now enjoy enhanced decentralized auctions on Rollux mainnet through the Bounce app. This transformative collaboration reshapes the blockchain landscape, combining Bounce Finance’s cutting-edge auction capabilities with Rollux’s unparalleled scalability, security and efficiency. Uniting the strengths of both platforms, this integration opens a world of possibilities for users and developers alike, paving the way for faster transactions, reduced fees, and enhanced DeFi experiences. The integration of Bounce Finance and Rollux empowers users to seamlessly engage in decentralized auctions on Rollux mainnet through the Bounce App. This collaboration enhances the efficiency and accessibility of decentralized auctions, benefiting from Rollux’s exceptional securit...

Shiba Inu (SHIB) and Dogecoin (DOGE) are two of the most popular memecoins. Both projects are known to have turned early investors into multi-millionaires. However, one question still plagues the minds of many investors: can they do it again? And if so, which project can make you a millionaire faster? Both Shiba Inu (SHIB) and Dogecoin (DOGE) are down by nearly 90% from their all-time highs. Investors witnessed exponential returns in 2021 but after the market crash in 2022, they saw a massive depletion in their investment. Now, the worst period might be in the past. Also read: Shiba Inu Price Prediction (SHIB): July End 2023 Shiba Inu’s (SHIB) Shibarium launch is right around the corner. The launch of the new layer-2 network could push the price of the asset to new highs. Moreover, the project also aims to launch a new burn mechanism, which could potentially remove trillions of SHIB tokens from circulation every month. On the other hand, Dogecoin (DOGE) is rumored to...

Alchemy partners with Space ID for customized Name Domains in crypto purchasing. Alchemy Pay has integrated the Web3 name service powered by SPACE ID. Enables users to utilize personalized domain names when buying cryptocurrencies using local fiat currency on Alchemy Pay’s on-ramp service. The digital currency purchased will be transferred to the wallet address linked to the SPACE ID domain, ending in .bnb and .arb. The collaboration introduces added convenience to Alchemy Pay Ramp Solution. By utilizing personalized Web3 domain names, users can now bypass the inconvenience of dealing with complex and difficult-to-remember wallet addresses. SPACE ID handles the mapping of these chaotic addresses to your customized domain names across various networks. For instance, instead of entering a lengthy address, you can simply use “AlchemyPay.bnb” as your crypto address to receive funds on the BEP20 network. In addition, Alchemy Pay has become a qualified partner in SPACE ID’s grant program. T...

The Ethereum sidechain will transition to a proof-of-stake network this August and become a full-fledged layer 2 based on Polygon’s zero-knowledge protocol in 2024. Nonfungible token-focused blockchain Palm Network is about to become a great deal more accessible to users, with plans to transition into being a customized Polygon blockchain. According to a July 26 announcement, Palm Network will soon become a Polygon (MATIC) ZK Supernet, which will see minting, trading, and collecting NFTs becoming more readily available to its users. Additionally, Palm Network will become interoperable with Ethereum and the rest of the Polygon 2.0 ecosystem. PALM on the journey to become ZKL2 with polygon Technology! Don't miss a talk with @lerdiedabirdie from ED @palmfdn and @sandeepnailwal , the Founder of @0xPolygonLabs. Set your reminder now! ️https://t.co/pRDSFbtNaC pic.twitter.com/SutmzzqTMS — Palmfdn (@palmfdn) July 27, 2023 Polygon “supernets” are customizable blockchains that are c...

Bitcoin and several major altcoins are trading inside a range, indicating that a strong catalyst is needed to start the next trending move. Bitcoin broke below the support of its narrow range on July 24, but the bears have not been able to capitalize on it and start a sharp downward move. This is a positive sign, as it shows a lack of aggressive selling at lower levels. The bulls will have to push and sustain the price back above $31,000 to trap the aggressive bears. Bitcoin’s (BTC) volatility is likely to pick up following the Federal Reserve’s policy decision on July 26 and the subsequent commentary by Fed Chair Jerome Powell. Rather than the knee-jerk reaction to the event, it will be of interest to note where Bitcoin’s price settles down. Daily cryptocurrency market performance. Source: Coin360 When the price enters and remains inside a range for an extended period, the breakout from it usually ends up with a strong trending move. It is difficult to predict the direction of the br...

Crypto Judgment From Case Involving ByBit In a case brought by ByBit against its former employee, Ho Kai Xin , Judge Jeyaretnam rendered his decision. According to ByBit, the employee transferred almost 4.2 million USDT from the cryptocurrency exchange to her personal accounts. Ho has been claiming that a distant cousin is in charge of the pertinent accounts, and the court has now ordered him to refund all of the money to ByBit. advertisement Even if the choice may appear clear, it contains key formulations that are crucial for the legal standing of digital assets. The stolen USDT and all cryptocurrencies are considered property by Judge Jeyaretnam. He said, “The physical manifestation at the level of digital bits and bytes is not permanent, and changes with every transaction. Nonetheless, we identify what is going on as a particular digital token, somewhat like how we give a name to a river even though the water contained within its banks is constantly c...

Since the beginning of 2023, the top 100 crypto assets have been outperforming the top 100 Stocks . Only during one instance, i.e. in June, Stocks overtook crypto for a brief period. With the crypto market currently consolidating, this asset class’s lead has been narrowing down. The YTD appreciation of the top 100 digital assets has been hovering around 46% at the moment. The Nasdaq 100 Index stands right behind, at 41%. Source: Bloomberg Commenting on the current state of affairs, Caroline Mauron, the Co-Founder of digital-asset derivatives liquidity provider OrBit Markets, recently asserted, “The rally has lost momentum following the initial excitement sparked by the ETF news, and there are no other visible catalysts on the horizon.” However, she was optimistic about the mid-term future. According to the executive, crypto’s downside risk “should be limited as the Fed is near the end of the current rate hiking cycle.” This “should support ris...

Ripple released a survey analyzing the influence of the crypto and blockchain industries in business and finance. The report stated that the financial leaders’ confidence in cryptocurrencies has increased greatly over the past six months. The research also highlighted the growing significance of decentralized finance in the business sector. Ripple recently released a survey, entitled “2023 New Value Report: Crypto Trends in Business & Beyond,” analyzing the influence of cryptocurrency and blockchain industry in the business and finance sectors. According to the report, more than 90% of global financial leaders believe that blockchain technology would significantly impact business and finance in the next three years, indicating a substantial increase in their confidence in virtual currencies over the past six months. On July 25, Ripple took to Twitter to share its Analysis regarding the massive hike in the financial leaders’ confidence in cryptocurrencies...

Join Our Telegram channel to stay up to date on breaking news coverage The Bank of America (BAC) recently expressed concern regarding the country’s lack of a crypto regulatory framework. The bank published a research report last Friday, claiming that a comprehensive regulatory framework is crucial for the mainstream adoption of digital assets and institutional engagement. Ripple wins a partial victory against the SEC The crypto industry has been voicing regulatory concerns and the necessity of a regulatory framework for years. However, the US SEC kept claiming that a new set of laws specifically for cryptocurrencies is unnecessary. The SEC views all cryptos as securities, and it treats them as such, claiming that securities laws apply to all of them. But, with the SEC vs. Ripple case now concluded, the ruling has shown that not all cryptos are securities after all. This may have been only a partial victory for Ripple, but it was a massive victory for the crypto sector....

Brad Garlinghouse has lashed out at the SEC for its "absurd" comments on the Ripple Labs case. Ripple CEO Brad Garlinghouse has condemned the United States securities regulator over recent comments from its lawyers that hint at a possible appeal to its case against Ripple. In a July 23 tweet, Garlinghouse slammed the regulator for its "regulation by enforcement" approach, arguing it has only served to hurt retail investors. “​​The SEC created this mess by proclaiming it was the cop on the crypto beat when it had no legal jurisdiction,” wrote Garlinghouse in a July 23 tweet. “Where’s that gotten us? Consumers left holding the bag in bankruptcy court while the SEC holds press conferences,” he added. An important topic has come up about protecting retail. The SEC created this mess by proclaiming it was the cop on the crypto beat when it had no legal jurisdiction Where’s that gotten us? Consumers left holding the bag in bankruptcy court while the SEC holds press con...

Santiment data revealed that 1,185 addresses have been created with more than 100 LTC. The altcoin’s price was able to cling by more than 2% over the past 24 hours. A daily close above $95 today may result in LTC climbing to $105 next week. Yesterday, the on-chain analytic platform Santiment revealed that the Litecoin (LTC) halving, which is just 12 days away, was generating a lot of trader enthusiasm. In just the past 24 weeks, Santiment data indicated that 1,185 more addresses have been created that own at least 100 LTC. 🗲 #Litecoin's upcoming #halving on August 2nd is still bringing increased trader enthusiasm. In the past 24 weeks, as more have become aware of it, 1,185 more addresses have been created that own at least 100 $LTC. Most expect this to be a #bullish event. https://t.co/r52R73DkiA pic.twitter.com/LcaFyBJGhS — Santiment (@santimentfeed) July 21, 2023 As a result, about 36.8K wallets in total had at least 100 LTC. Today, one day close...

Shiba Inu is all set to launch a layer-2 solution that would make buying SHIB tokens cheaper, more efficient, and faster. The L2 network named Shibarium is touted to catapult SHIB’s price to new highs and even put it on the path to reach $0.01. Shibarium is the most-anticipated development in the Shiba Inu ecosystem as investors believe it is the key for SHIB’s next bullish rally. Also Read: Shiba Inu to 50 Cents? Here’s What Must Happen For SHIB To Reach $0.50 Source: Coingecko The network would charge a small fee for initiating transactions and use the fee to relentlessly burn SHIB tokens. Therefore, investors bet that Shibarium is the only solution that could solve SHIB’s scalability problems. Shiba Inu: Not Many Experts Believe Shibarium Will Scale SHIB’s Price Up Source: AnalyticsInsight.com Investors and cryptocurrency analysts differ on Shibarium ’s effect to sustainably scale SHIB’s price up in the indices. A panel of 55 cr...