Blockchains are becoming dollarized: Now what?

It has become increasingly clear that stablecoins have become the dominant means of transaction settlement on public blockchains, at the exclusion of native cryptoassets (like Bitcoin/Ether). This wasn’t in the plan of the architects of these blockchains or their communities.

On-chain data supports this observation: Stablecoins represent approximately 10% of the total crypto market cap, but they account for around 70%-80% of transactional value settled on blockchains, according to data presented by Nic Carter at Token2049 (a crypto event in which our company was a sponsor of).

While most metrics show a stagnation of interest and usage for major crypto use cases, stablecoin usage is…

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What is Plasma and why is Vitalik Buterin into it all over again?

Ethereum co-founder Vitalik Buterin wants to bring back Plasma as a blockchain scaling solution that could sidestep existing data availability concerns.

First created in 2017, Plasma networks can be considered “child” chains of the Ethereum mainnet. These execute transactions away from Ethereum using their own block-validation mechanisms, then periodically post final states back to mainnet.

Plasma chains differ from popular scaling solutions such as Arbitrum or Optimism, which instead post computed data back to Ethereum mainnet, although it is compressed.

In the blockchain world, data tied to computational tasks — such as processing transactions — must be stored somewhere. When…

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Money Printer Goes Brrr! Analyzing CPI Index and Inflation

Tuesday’s Consumer Price Index (CPI) report, showing lower inflation than expected, sparked a wave of excitement in the markets. This excitement comes from the belief that the Federal Reserve might stop raising interest rates, hinting at a possible return to policies that “boost the economy”, often playfully called “Money Printer Goes Brrr.”

Money Printer Goes Brrr: Analyzing The CPI Index

However, it’s important to take a closer look before getting too excited. The way the CPI measures inflation isn’t perfect, and there might be some issues with how it reflects the true cost of living. For example, the basket of goods and services it uses to measure price changes might…

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HRF Launches CBDC Tracker, Focuses on Human Rights

The Human Rights Foundation (HRF) has recently launched a Central Bank Digital Currency (CBDC) Tracker at the National Press Club in Washington, D.C. This online tool is designed to track the development of CBDCs globally, with a particular focus on understanding how they will impact various nations and their citizens.

HRF’s CBDC Tracker

Unlike other initiatives, the HRF’s Tracker emphasizes the potential impact of CBDCs on civil liberties and human rights globally, particularly in countries under authoritarian regimes. By providing an interactive globe that showcases each country’s CBDC status—ranging from no activity to research, pilot, or launch—the HRF’s Tracker offers…

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Auradine Unveils New Teraflux Miner With 375 TH/s Capacity

Auradine, a firm focused on artificial intelligence, privacy, and blockchain, has introduced new Teraflux Bitcoin miners, the AT2880 and AI3680. The firm, founded in 2022 by a team of seasoned entrepreneurs and technologists, claims that its new miners are the “fastest and most efficient Bitcoin mining systems in the world.”

Auradine’s New Groundbreaking Bitcoin Miners

As per the announcement shared on November 14, Auradine said that it has achieved groundbreaking innovation through “breakthrough architectural and process advances in ASIC technologies.” The new Teraflux miners “offer cutting-edge uptime and demand-response features that help miners reduce costs and…

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Bitcoin Price Up 120% Since El Salvador Became First Nation to Buy 1 BTC A Day

It’s officially been one year since the nation of El Salvador became the first to begin buying Bitcoin every day, joining the millions of savers around the world who dollar cost average into the cryptocurrency.

As profiled by Bitcoin Historian Pete Rizzo today, it was on this date last year when El Salvador’s President Nayib Bukele committed to purchasing one bitcoin every day. One year later, the results are in, Bitcoin is up 120%.

While it is unclear whether El Salvador stuck to the plan, if it has, it has amassed a total of 365 bitcoins at a reported cost of $13 million during that time. However, the cost basis for these acquisitions is notably lower at $9.5 million, or a $3 million…

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Game distributor G2A opens gaming-focused NFT marketplace

Digital game vendor G2A has recently launched a marketplace for nonfungible tokens (NFTs) linked to Web3 games to expand its offerings by adding gaming NFTs to its wider collection of gaming software. 

According to a press release sent to Cointelegraph, the new venture launched on Nov. 15 is aimed at giving exposure to Web3 and NFT games that the G2A team has curated. With this, gamers will have the chance to see what blockchain gaming offers and be shown NFTs from games partnered with G2A.

At @G2A_Geekverse we believe that Web3 gaming is not just a buzzword.

It represents a paradigm shift toward decentralization, digital ownership, and a new era of gaming experiences, empowering…

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Bitcoin enters make-or-break zone after BTC price snaps back to $38K

Bitcoin (BTC) circled a key level into the Nov. 16 Wall Street open after copycat BTC price action produced a fresh attack on $38,000.

BTC/USD 1-hour chart. Source: TradingViewBTC price matches 18-month highs

Data from Cointelegraph Markets Pro and TradingView showed a swift turnaround for Bitcoin, which reversed upward after a precipitous comedown earlier in the week.

The daily chart thus printed a near identical pattern to that seen a week prior, with $38,000 still acting as firm resistance.

Now at around $37,400, BTC/USD was testing what analysts highlighted as an essential support zone to retain.

$BTC 4Hprice in area of interest now

bulls should pray here imo

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Ferrari’s Bitcoin acceptance is major market win, says CoinFlip CEO

Ferrari’s decision to allow U.S. residents to buy its cars in exchange for cryptocurrencies like Bitcoin (BTC) has become one of the biggest market wins in 2023, according to the CEO of the Bitcoin ATM operator CoinFlip.

Ferrari has been aware of the growing demand from clients for alternative payment solutions and decided to support dealers in meeting these clients’ requests, the representative said, adding:

“The source of the cryptocurrencies will be proven, and volatility risks associated with exchange rates will be eliminated. Dealers — and ultimately Ferrari — will receive payments in traditional currency and will not be managing cryptocurrencies directly.”

Ferrari added…

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