Why A Shocking Altcoin Season Could Be On The Horizon

Altcoin season is a phrase that is quite popular throughout the crypto market. The phrase refers to the run-up in the prices of altcoins after the price of bitcoin slows down. The altcoins usually see an uptick in their individual and collective market dominance, taking even more market share from the top cryptocurrency, bitcoin. As the coins become more valuable, their prices soar following the increased market share. An altcoin season usually sees most of the altcoins in the market rallying at the same time. With Ethereum’s price mostly leading…

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Cardano price is hot, but data shows pro investors haven’t warmed up yet

Cardano (ADA) has been in the spotlight lately and this is partially because of its early 2021 price performance and the fact that its huge fan base has been anxiously awaiting the launch of the network’s smart contract capability in the upcoming Alonzo upgrade.  While the rise of DeFi took place and the total value locked in decentralized finance applications soared above $76 billion, Cardano investors have been waiting nearly four years to the project to deliver on all its promises. Traders are now trying to determine whether the 50%…

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VanEck takes new approach with SEC, files for Bitcoin Strategy ETF

Asset manager VanEck is filing for a Bitcoin Strategy exchange-traded fund after it unsuccessfully attempted to launch a similar fund four years ago.  According to U.S. Securities and Exchange Commission, or SEC records, VanEck filed a prospectus for a Bitcoin Strategy exchange-traded fund, or ETF, on Aug. 9. Unlike its Bitcoin (BTC) or Ether (ETH) ETFs currently under review by the federal agency, the proposed fund would not invest in BTC directly, but provide exposure through Bitcoin future contracts, pooled investment vehicles, and other exchange-traded products. VanEck said the Bitcoin…

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Teller Finance deploys mainnet on Polygon, migrates 2,200 NFTs

Teller Finance, a non-collateral lending protocol for the DeFi market, has officially deployed its mainnet on Polygon, marking a significant milestone in its quest to offer scalable, user-friendly solutions.  With the launch of Teller’s Polygon mainnet, users can begin making deposits and funding liquidity pools immediately, the company disclosed Tuesday. The Teller protocol continues to be available for use on the Ethereum (ETH) mainnet. Teller’s Polygon deployment is part of a broader strategy to broaden the mainstream appeal of digital assets without the bottlenecks of slow transaction speeds and higher…

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Dogecoin and Shiba Inu fetch 50% gains as altcoins rally

Momentum the wider cryptocurrency market appears to be on the upswing this week after bulls pushed Bitcoin price to the $46,700 and Ether price to $3,150 on Aug 9.  The growing optimism has also translated into a bounce in dog-themed meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), which have both seen their prices rise by more than 55% over the past three weeks. DOGE/USDT vs. SHIB/USDT 4-hour chart. Source: TradingView Dog-themed meme coins caught fire earlier in the year after Dogecoin became the altcoin of choice for influencers like Elon…

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5G blockchain company raises $111M in Andreessen-led token sale

Helium Inc., a provider of decentralized wireless infrastructure, has concluded a $111 million token sale led by some of the biggest venture firms in the blockchain industry.  The sale, which centered around Helium’s native token, HNT, was scooped up by several venture capital firms, including Andreessen Horowitz. Alameda Research, Multicoin Capital and Ribbit Capital also contributed, according to BNN Bloomberg. General partner at Andreessen Horowitz Ali Yahya told Bloomberg that new cryptocurrency protocols like Helium will “challenge centralized incumbents” and compete with bigger telecommunication service providers. Yahya tweeted Tuesday that…

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BitMEX will pay $100M in penalties to FinCEN, CFTC

Crypto derivatives exchange BitMEX has agreed to pay up to $100 million to resolve a case from the United States Commodity Futures Trading Commission, or CFTC, and the Financial Crimes Enforcement Network, or FinCEN. In a Tuesday announcement, the Commodity Futures Trading Commission said the U.S. District Court for the Southern District of New York had entered a consent order for HDR Global Trading Limited, 100x Holding Limited, ABS Global Trading Limited, Shine Effort Inc Limited and HDR Global Services Limited to be charged with illegally operating the BitMEX platform. As…

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Exchange listings and NFT boom lift IoTeX, Rally and Axie Infinity price

Tuesday started with a bang after Poly Network was hacked for $610 million in funds in what appears to be the worst hack in the history of decentralized finance and the price of Bitcoin (BTC) dropped by by 2% to trade near $45,000.  Despite the severity of the hack, most altcoins are holding on to their recent gains and those that are registered small losses line up with the pullback in Bitcoin price. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were…

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Infrastructure bill passes US Senate — without clarification on crypto

The fight for lawmakers to clear up the language used to define brokers in the crypto space may be moving to the United States House of Representatives soon after a failed attempt in the Senate. In a 69-30 vote, the Senate passed HR 3684 this morning, a bipartisan bill that proposes roughly $1 trillion in funding for roads, bridges and major infrastructure projects. However, the bill also suggests implementing tighter rules on businesses handling cryptocurrencies and expanding reporting requirements for brokers, mandating that digital asset transactions worth more than $10,000…

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Bank of Jamaica mints the first batch of national digital currency

Jamaica is aggressively progressing with the country’s central bank digital currency (CBDC) as the Bank of Jamaica, or BOJ, has minted the country’s first batch of CBDC. The BOJ officially announced that its dedicated CBDC division demonstrated the process of minting digital currency at a financial ceremony on Monday. The issuing process for a digital version of the Jamaican dollar (JMD) was carried out with participation from Jamaica’s finance minister Nigel Clarke, BOJ governor Richard Byles and a group of senior BOJ executives, as well as a management team from…

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