Record network activity and a second NFT boom send WAX price higher

Just a few days before Bitcoin (BTC) price plunged below $30,000, the NFT sector was dominating headlines for the second time in 2021, led by a month-long 972% surge in the price of Axie Infinity.  Another NFT-focused protocol that has been gaining fundamental strength in recent months is Worldwide Asset eXchange, also known as WAX — a protocol that claims to “deliver the safest and most convenient way to create, buy, sell, and trade virtual items to anyone, anywhere in the world.” WAX/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets…

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Elon Musk says Bitcoin may have already hit his benchmark on renewable energy

Tesla CEO Elon Musk has hinted the crypto industry is on its way towards a greener future, but the car manufacturer won’t be accepting Bitcoin payments just yet. Speaking at The ₿ Word, a virtual Bitcoin (BTC) event with Twitter CEO Jack Dorsey, Ark Invest’s Cathie Wood and moderator Steve Lee from Square Crypto, Musk said that Tesla would “most likely” consider resuming crypto payments for its vehicles — a policy the CEO said the company would be stopping in May — but said he needed to exercise diligence before…

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Altcoins secure double-digit gains after Bitcoin surges toward $33K

Charts turned green as Bitcoin (BTC) price rallied to $32,858, but a number of analysts also cautioned that the market may not be out of the woods yet.  Data from Cointelegraph Markets Pro and TradingView shows that the top movers over the past 24-hours were Telcoin (TEL), Polygon (MATIC) and Axie Infinity (AXS), indicating that the recovery is widespread and not just confined to large-cap cryptocurrencies. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro As seen in the list above, the top-performing tokens represent a…

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Crypto mining firm Argo Blockchain files for US IPO

Argo Blockchain, a U.K. publicly traded company focused on crypto mining, has begun the process of applying for an initial public offering in the United States. According to a confidential draft registration statement filed Tuesday with the U.S. Securities and Exchange Commission, or SEC, Argo has proposed a dual-listing and initial public offering of American Depositary Shares, expected to occur in the third quarter of 2021. The company said the timing could depend on the SEC completing its review process and other conditions in the market. Argo said the number…

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Bitcoin price hits $32K but derivatives metrics still show signs of weakness

There’s no doubt that the last couple of months have been bearish for Bitcoin (BTC), but throughout this entire period, derivatives indicators have been relatively neutral. This could be because cryptocurrencies have a strong track record of volatility, and even 55% corrections from all-time highs are expected. After two months of struggling to sustain the $30,000 support and finally losing it on July 20, the futures premium and options skew turned bearish. Even PlanB’s stock-to-flow valuation model was not expecting prices below $30,000 for the current month. The model uses…

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Crypto exchange OKCoin taps FIS subsidiary Worldpay to lead global expansion

Cryptocurrency exchange OKCoin has selected merchant service provider Worldpay to aid in its expansion efforts, which includes bringing crypto-to-crypto payments to a global audience.  OKCoin will leverage Worldpay’s foreign exchange services, allowing customers to purchase cryptocurrency with credit and debit cards. Jason Lau, OKCoin’s COO, said his firm selected Worldpay for its extensive experience working with cryptocurrency exchanges. He further explained: “As we activate new markets and local currencies, opening up new channels of payments will play a key part in our growth, as well as the overall cryptocurrency industry.”…

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SEC Chairman says cryptocurrency falls under security-based swaps rules

The Securities and Exchange Commission, or SEC, may soon issue new rules for the regulation and registration of security-based swaps, including cryptocurrency. In a speech to the American Bar Association Derivative and Futures Law Committee SEC Chairman Gary Gensler laid out the changes coming to security-based swaps over the next year. The changes are designed to increase transparency and reduce risk to the market. The new requirements that will go into effect in November include new counterparty protections, requirements for capital and margin, internal risk management, supervision and chief compliance…

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Testing interest in NFTs vs. physical collectibles with Apple founder’s 50-year-old job application

A crypto entrepreneur is planning to gauge whether interest in a collectible from deceased Apple co-founder and CEO Steve Jobs is directed more towards the digital space or the physical world. In an announcement today, Winthorpe Ventures’ Olly Joshi said software company Snoofa would be auctioning off a 1973 job application from Jobs before he joined video game company Atari as a technician. At the same time, digital marketplace Rarible will be auctioning a tokenized version of the paperwork to test which version — a nonfungible token, NFT, or the…

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US Bitcoin mining giant Core Scientific set for Nasdaq listing via $4.3B SPAC deal

Core Scientific, one of the largest Bitcoin (BTC) mining operations in North America is set for a public listing on Nasdaq. According to CNBC on Wednesday, Core has inked a $4.3 billion merger with Power & Digital Infrastructure Acquisition Corp — a special purpose acquisition company (SPAC). Apart from the planned valuation, other listing details like trading ticker and the start of actual public trading are yet to be revealed as of the time of writing. The SPAC merger and subsequent Nasdaq listing will see Core join the ranks of…

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