Ethereum Outflows from Exchanges Continue Increasing Amid a Roaming Supply Squeeze

A holding tendency continues to be illustrated in the Ethereum network based on ETH outflows from crypto exchanges.

Abkhazia Holds Talks With Russia to Ensure Electricity Supply for Crypto Miners

The government of Abkhazia is negotiating with Russia to solve a problem that led to a ban on cryptocurrency mining.

Bitcoin is Moving to Strong Hands as Small Holders are Proving to be a Rising Force

On-chain analyst Will Clemente believes that Bitcoin is moving to strong hands given that its supply shock is at levels witnessed at the $50-$60K range.

Ethereum Upgrade for Reducing ETH Supply Gets Commemorative NFTs

The proceeds from the sale will go toward those who worked on EIP-1559.

6.2 Million Bitcoins are Being Held at a Loss, Representing 33% of BTC Supply

Ever since Bitcoin (BTC) nosedived from an all-time high (ATH) price of $64.8K recorded in mid-April, 6.2 million coins are being held at a loss, representing 33% of supply.

As Bitcoin Drops Below $30k, Stablecoins Surpass $100 Billion In Total Supply

Bitcoin has dropped below the $30k mark, while stablecoins go strong as they surpass over $100 billion in total supply.

No hard fork love for Ethereum as ETH price falls to a three-week low

Ether continues to trade lower under the shadow of Bitcoin in days leading up to its supply-crunching hard fork event. Ether (ETH) prices slid in tandem on July 20, in tandem with Bitcoin's (BTC) drop below $30,000.The ETH/USD exchange rate dropped 5.41% to an intraday low of $1,720 — or roughly $400 above its 2018 all-time high price, which should serve as an important psychological support level. The pair's bid had climbed to as high as $1,994 on the Coinbase exchange on Sunday.

Crypterium - One Of The Largest Crypto Banks Burns 1M CRPT Tokens

Disclaimer: The text below is a press release that was not written by Cryptonews.com. London, July 11, 2021: Following up the announcement regarding burning CRPT, Crypterium confirms that more than 1m tokens have been successfully collected and destroyed during the first burning on July 11. Meanwhile, Crypterium confirms it plans to reduce the CRPT total supply by 30% during the next 24 months

Bitcoin Rally Incoming, According to On-Chain Analyst Will Clemente – Here’s Why

A popular on-chain analyst believes that a Bitcoin rally is in the cards as the leading cryptocurrency faces the possibility of a supply squeeze.

LaneAxis to be a game changer for global freight transportation sector

The Global Freight Transportation Sector is a highly valuable industry responsible for the day-to-day supply of products.

Crypterium burns 1M CRPT tokens as the first step towards cutting ⅓ of total supply

Following up on the announcement regarding burning CRPT, Crypterium confirms that more than 1m tokens have been successfully collected and destroyed during the first burning on July 11. Meanwhile, The post Crypterium burns 1M CRPT tokens as the first step towards cutting ⅓ of total supply appeared first on AMBCrypto.

Bitcoin Supply Shock Incoming, According to Skybridge Capital’s Troy Gayeski

SkyBridge Capital’s co-chief investment officer Troy Gayeski predicts that Bitcoin will go through a supply-side crisis similar to what happened last year when BTC kicked off its bull market.

Buying Spree: The Top 10 Ethereum Wallets Now Own 20.58% of ETH’s Supply

By increasing their holdings by more than 2% in 40 days, the top ten Ethereum wallets now own about 20.5% of all the asset's overall supply.

China shuts down crypto mining in Anhui province

The Anhui government is addressing growing electricity demand by shutting down local crypto mining operations. The Chinese government continues cracking down on the cryptocurrency mining industry by suspending crypto mining operations in another province.Authorities at Anhui, a small province in eastern China, have announced a set of measures to tackle growing electricity demand and an associated power supply shortage in the next three years, local news agency Hefei Online reported on Wednesday.As part of Anhui’s efforts to curb energy consumption, the province plans to shut down crypto mining projects and scrutinize new initiatives that require large amounts of energy consumption.

Inflation Soars In US, 'Very Healthy' Crypto Scrutiny + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. ______ Economics news US consumer prices increased by the most in 13 years in June amid supply constraints and a continued rebound in the costs of travel-related services from pandemic-depressed levels as the economic

Bitcoin Investors Owning Coins Aged Between Two and Five Years Hold Over 22.9% of BTC Supply

As Bitcoin continues consolidating between the $30K and $40K range, BTC investors holding coins aged between two and five years are still confident about their investment.

Volatility Drops in Directionless Digital Asset Market – eToro Crypto Roundup

Will sideways trading give way to volatility as Grayscale shares unlock? A summer lull has descended on the digital asset market, as Bitcoin struggles to find clear direction amidst an ample supply of both bullish and bearish headlines.

Ukrainian police seize 3,800 PS4 consoles used for illegal crypto mining

Miners used an empty warehouse of an electricity supply company to plug into the grid and mine crypto on a variety of devices, including gaming consoles.

Bitcoin: A supply shock may be coming, but this is what it means

Bitcoin, at press time, had been following its sideways price trajectory for over a week, humbly oscillating between the $40,000-$30,000 levels.

Crypterium Announces 30% Token Burn Goal

[Featured Content] It is not unusual for blockchain and crypto-related firms to burn off a portion of their token supply.

3 reasons why Ethereum exchange reserves are falling to new lows

Ethereum held in exchange reserves reached a new low after a surge in Ether staked in Eth2 and the approach of the long-awaited London hard fork. Over the past week, astute crypto market analysts noticed some interesting developments related to the supply of Ether (ETH) as the network's August 4 London hard fork approaches.Recent data from CryptoQuant, an on-chain analytics firm, indicates that the amount of Ether held in cryptocurrency exchanges' reserves has hit new daily lows since the start of July.Ethereum all exchange reserves.

Bitcoin analyst says ‘supply shock’ underway as BTC withdrawal rate spikes to one-year high

The supply shock is being unnoticed, similar to Q4 2020 before the price of Bitcoin skyrocketed, says Willy Woo.

Iran pauses electricity exports due to crypto mining and hot summer

Discounted tariffs made Iran attractive to miners, now the country is having a hard time closing the gap between the production and consumption of electricity. Iran’s challenge with the ever-increasing electricity consumption reached new heights, leading the country to halt electricity exports.Abuzer Salihi, general manager of Iran’s electricity distribution company Tevanir, announced on state television that it has reduced electricity exports to zero “so that there is no problem in electricity supply in the country.” He said that the electricity supply to Afghanistan’s Herat province, which imported 70% of its electricity from Iran, completely stopped in order to meet domestic needs.According to the numbers shared by Tevanir, the daily electricity deman reached over 65,000 megawatts while production is around 54,000 megawatts.

Sygnum becomes first bank in the world to offer Eth2 staking

Sygnum emphasized the robust DeFi ecosystem being built on Ethereum. Crypto-focussed Swiss bank, Sygnum Bank, has announced it has become the first bank in the world to allow its clients to stake Ether.According to the July 6 blog post, the firm’s clients can now stake ETH through Sygnum’s institutional banking platform to earn yields of up to seven percent annually.Sygnum describes itself as the “world’s first digital asset bank,” having secured a banking licence in Switzerland and a capital markets services license in Singapore during August 2019 and October 2019 respectively.The firm asserts that “the vast majority of decentralized products and services run on Ethereum,” noting the DeFi sector’s Total Value Locked (TVL) has grown by more than three times since the start of 2021:“With Ethereum powering the exponential growth of decentralized finance (DeFi) applications, staking is a compelling choice for long-term Ethereum investors also seeking attractive yields.”Thomas Eichenberger, Sygnum’s head of business units, described Ethereum staking as “a core element for digital asset portfolios.”Sygnum launched a staking service for Tezos (XTZ) in November 2020, and has offered a fixed term deposit product for its Digital Swiss Franc stablecoin, DCHF, since March.The bank faces competition from many crypto-native staking providers and centralized exchanges, including leading US firms Coinbase and Kraken.The digital asset bank is also looking to support DeFi assets, launching regulated banking services for eight leading tokens including UNI, MKR, and CRV last month.According to Staking Rewards, Eth2 is currently the second-largest Proof-of-Stake network by staked capitalization with $13.5 billion, despite only 5% of circulating Ether currently having been locked for staking.Cardano (ADA) has the largest staked capitalization with $31.8 billion and 70.7% of supply currently locked.

Ethereum Update to Reduce ETH Supply Likely Coming in August

Pending approval from client teams, EIP-1559 should go live around the date of August 4.

Crypterium Moves to Burn Up to 30% Of the Total Supply of CRPT Token

Crypterium plans to burn 30% or over 30 million of CRPT total token supply in the next 24 months.

The Ratio of Bitcoin’s Supply on Exchanges Hit a 6-Month Low

Statistics by on-chain metrics provider Santiment show that Bitcoin’s ratio of supply on crypto exchanges hit a six-month low.

Bitcoin exchange supply hits a 6-month low as accumulation continues

The likelihood of another steep selloff for BTC is diminishing as more holders are accumulating, according to data from Santiment.

Share Buyback Magic: Financial Forecaster Says Stock Market Rally Is All ‘Smoke and Mirrors’

While the American economy witnesses small business failures across the nation, historical unemployment rates, major issues with the supply chain, countless product shortages, and the cost of goods and services inflating, the stock market continues to rally.

What you need to know about Bitcoin's 'capitulation for the ages'

For the better part of the last two months, Bitcoin held its consolidation range between $32,000 and $40,000, and 15% of the BTC money supply moved in this range during this period.

Indian IT giant Tech Mahindra partners on blockchain system for vaccine tracing

Aiming to tackle the supply chain issues that impact the stock and expiry of COVID-19 vaccines, Tech Mahindra and blockchain firm StaTwig will roll out a “VaccineLedger” solution worldwide. As mass vaccination programs against COVID-19 become increasingly critical to many governments' strategies for pandemic management, blockchain firms are acting fast to propose ways in which the technology could offer solutions to some of the logistical hurdles involved.Blockchain company StaTwig — a graduate of the UNICEF Innovation Fund — was already trialing its blockchain-based solution VaccineLedger in 2019, in both India and the United States.

Bitcoin Supply Shock Now in Play, Says On-Chain Analyst Will Clemente

Emerging on-chain analyst Will Clemente says he’s closely watching the activities of two types of Bitcoin investors as BTC continues to trade above the $30,000 level.

Sci-fi or blockchain reality? The ‘Ready Player One’ OASIS can be built

Enter the OASIS: The economy of the liveable arcade in the science fiction film could only be built using blockchain technology. Distributed ledgers, in the form of blockchain technology, are jostling their way into financial markets, healthcare systems and the global supply chain, but perhaps the most significant disruption has yet to come.

Bitcoin and Ethereum Supply Dropping on Major Crypto Exchanges, Changing Tide Favors Bulls: Santiment

A leading crypto analytics firm is assessing the state of Bitcoin (BTC) and Ethereum (ETH).

The Most Advanced DEX on Polygon: Firebird Swap V2

Disclaimer: The text below is a press release that was not written by Cryptonews.com. Firebird Finance, one of the most revolutionary DeFi projects of 2021, is now available on both Polygon and BSC with the most competitive swapping rates on the market. Firebird’s HOPE token landed on Polygon on June 8th, with an available supply of over 30,000,000 tokens.

Institutional investors aren't buying Bitcoin at 50% of all-time highs …for now

Ahead of the major GBTC unlocking event, it seems institutions and retail alike have cold feet about $34,000 Bitcoin. Institutions are holding their breath when it comes to buying more Bitcoin (BTC), even at $34,000.According to data covering BTC balances on major exchange Coinbase, little mass buying has occurred in recent weeks.Institutional demand "still low," says analystDespite BTC/USD trading at over 50% below its recent all-time highs, there is curiously little interest in buying up the supply for many investors.Whether retail or institutional, adding Bitcoin to portfolios appears to be simply not as attractive as before, even with a conspicuous “discount.”“I know this is getting old, but Coinbase Bitcoin exchange balances still continue to go sideways,” researcher Jan Wuestenfeld commented on the data, tracked by on-chain analytics service Glassnode.

Bitcoin Cannot and Should Not Replace Fiat Money, Says Greece’s Former Finance Minister

The former minister of finance of Greece said bitcoin creates "feudalism" and should not replace fiat money because of its fixed supply.

Athena confirms plans to bring 1500 Bitcoin ATMs to El Salvador

Accessing BTC is about to get a lot easier in El Salvador with the crypto ATM rollout. US company Athena intends to supply El Salvador’s new crypto-based economy with 1500 Bitcoin ATMs, a company representative has confirmed.The rollout will start small, trialing a few dozen machines to establish a business model.

Huobi Burns more than 1% of its Total HT Supply in One Month

Huobi, the popular cryptocurrency spot and derivatives platform has achieved a huge milestone by burning a significant number of its native HT tokens.

Aussie state government blockchain platform may prevent a tower block inferno

The platform will track the material resources, subcontractors and construction process used to build Aussie homes. Big Four accounting firm KPMG has partnered with Australian property developers Mirvac to develop a blockchain-based platform to track the provenance of buildings. The platform was commissioned by the New South Wales state government.Taking inspiration from supply chain initiatives to track beef products using blockchain, the platform will allow property insurers, investors, and owners to access verified data on the resources, subcontractors and building processes employed during a property’s construction.A working model is slated to go live within six months and will be piloted on existing buildings that are undergoing rectification amid the recent flammable cladding crisis, in addition to an upcoming development from Mirvac.The integrity and trustworthiness of Australian property construction has emerged as a major concern after the 2017 Grenfell Tower disaster in the United Kingdom prompted a national investigation into the safety of materials used in Australian buildings during 2019.The subsequent report estimated that it would cost roughly $4.2 billion to fix thousands of homes that are fitted with dangerously combustible cladding.

Bitmain reportedly suspends Bitcoin miner orders amid booming secondhand supply

By postponing the sales, Bitmain aims to help miners exiting the industry get better prices for mining equipment. Chinese mining giant Bitmain is reportedly scrambling to respond to market conditions amid a major crackdown on the crypto mining activity by local authorities.According to a Wednesday report by Chinese news agency Sina Finance, Bitmain has halted global spot sales for its new Bitcoin (BTC) mining devices in order to avoid losses by customers amid massive selling on the secondary market.By postponing the sales, Bitmain intends to help miners exiting the industry get better prices for mining equipment as well as protect the firm from further price decline over the longer term, Bloomberg reported.

Canaan Diversifies Business by Becoming a Bitcoin Miner In Kazakhstan

Major producer of Bitcoin (BTC) mining equipment Canaan announced it has moved beyond its existing business model and into becoming miners themselves, as "the logical next step" towards optimizing their revenues, strengthening the inventory management and supply chain capabilities, as well as accumulating BTC. Canaan is "driving their own crypto-mining business

Denied electricity, world's 5th-largest mining pool leaves China for Kazakhstan

Crypto mining pool BTC.com is leaving China after local authorities withdrew its power supply.

Stablecoin inflows to exchanges dip as traders watch Bitcoin from the sidelines

Stablecoin inflows to exchanges tapered off as investors turned bearish on Bitcoin, but a surge in USDC minting could be a signal of upcoming regulation. The growth of stablecoin's market cap and circulating supply has been one of the best indicators for attaining a general pulse on how participants in the market are feeling during bullish and bearish times.Monitoring the Tether (USDT) treasury for large issuances was a common tactic used by analysts and traders to position themselves for a possible pump in the price of Bitcoin (BTC) and altcoins and previously this has been a good source of alpha for those willing to take a risk.

Ethereum Upgrade, Which Will Reduce ETH Supply, Moves Into Final Stages

The London hard fork will include EIP-1559, which lowers the amount of ETH miners receive.

Miami mayor offers city's clean nuclear power to Chinese Bitcoin miners

Mayor Francis Suarez wants to make Miami a Bitcoin mining hub by offering the city’s cheap, clean nuclear energy supply. With Bitcoin (BTC) mining concentration expanding in North America, Miami mayor Francis Suarez is looking to position his city as a hub for crypto mining activity.Speaking to CNBC on Thursday, Mayor Suarez said he is inviting foreign mining companies to consider establishing data centers in the city.According to Suarez, Miami’s ample nuclear electricity supply should attract Bitcoin miners looking to adopt clean energy sources for their operations, especially amid the current spotlight on the supposed carbon footprint of crypto mining.Mayor Suarez has previously weighed in on the issue claiming back in March that 90% of Bitcoin mining was from “dirty energy.”At the time, the Miami mayor argued that a shift in mining concentration to the United States may help to ease environmental concerns.As part of efforts to attract overseas Bitcoin miners, Mayor Suarez stated that city officials were looking to reduce the cost of energy in conjunction with the power companies.

Bitcoin Miners in Sichuan Ordered to Shut Down: Report

The Ya’an municipal government in Sichaun has ordered energy companies to cut supply to 26 cryptocurrency mining farms.

New Bitcoin bull market hodlers are refusing to sell at $40K, data suggests

Those who bought Bitcoin this bull market are in no hurry to sell, says Glassnode, as small-time investor numbers also grow. Bitcoin (BTC) investors continue to hodl BTC at $40,000, even if they bought it at lower levels earlier in 2021.In the latest edition of its newsletter, The Week On-Chain, on June 14, on-chain monitoring resource Glassnode revealed that buyers from the first months of this year’s bull market are refusing to cash out."Very young" supply in declineBitcoin has been marked by low volume in recent weeks as price action remained rangebound between $30,000 and $41,000.The past few days has seen modest volatility return, but for most hodlers, there are few opportunities for profiteering under current circumstances.Glassnode suggests that this is clear by looking at so-called HODL Waves, an indicator which shows what proportion of the Bitcoin supply last moved.

Listed companies, trusts and ETPs now control almost 7% of the Bitcoin supply

More publicly traded firms added Bitcoin to their treasuries during the first four months of 2021 than during the entirety of last year.

Nearly 1% Of Bitcoin Supply Is Now Wrapped In Ethereum

As wrapped Bitcoin approaches 189,000 BTC, the leading form of BTC on Ethereum now makes up for nearly 1% of the total supply of the cryptocurrency.

13.38% of Bitcoin’s Money Supply Has Now Moved Between $31K and $40K

On-chain analyst William Clemente III disclosed that 13.38% of Bitcoin’s circulating supply standing at 18.73 million BTC has moved between the $31k and $40k range.

What is the Bitcoin Halving? How Bitcoin's Supply is Limited

Every four years, the amount of Bitcoin awarded to miners is halved, an event known as the Bitcoin halving.

Bitcoin Bear Market in Sight? Here’s How Long-Term Holders Are Playing the Crypto Markets: Glassnode

Blockchain analytics firm Glassnode is weighing in on the supply dynamics of Bitcoin and how long-term holders are reacting to the most recent crypto correction.

Spanish seafood firm partners with IBM for supply chain tracking

Spanish multinational seafood giant, Nueva Pescanova Group, has partnered with The IBM Food Trust to trace the shrimp and prawns it fishes on the blockchain.

One percent of Bitcoin’s supply has been locked in the WBTC protocol

More than $6 billion worth of Bitcoin is now tokenized on Ethereum as WBTC. One percent of Bitcoin’s circulating supply is currently tokenized as Wrapped BTC (WBTC), equating to nearly $6.2 billion worth of BTC. The milestone was acknowledged by the product manager of crypto custody firm BitGo, Kia Mosayeri, who tweeted the news on June 7.

XRP Supply Shock Could Be Coming if Ripple Decides To Settle SEC Lawsuit, Says Crypto Legal Expert

A crypto legal expert is predicting that Ripple’s native token XRP may face a supply shock if the San Francisco-based firm settles its lawsuit with the US Securities and Exchange Commission (SEC).

Chinese government agency issues blockchain development roadmap

China’s “blockchain not crypto” stance continues as one government agency publishes guidelines to accelerate the adoption of tokenless blockchain solutions. China’s Office of the Central Cyber Security and Information Committee of the country’s Ministry of Industry and Information Technology (MIIT) has identified four essential application areas for blockchain adoption.The MIIT’s five-point agenda for blockchain adoption was part of a document issued on Monday detailing guiding opinions to accelerate the promotion of the emerging technology for industrial development.As previously reported by Cointelegraph, China’s President Xi Jinping previously called for rapid blockchain adoption back in October 2019.Presenting its argument for blockchain adoption, the MIIT document described the novel tech as “an important part of the new generation of information technology.” According to the IT ministry, blockchain is among a raft of new innovations like big data and artificial intelligence that are critical to China’s continued progress.The MIIT document listed the economy, finance, industrialization and public services as the main focus for blockchain development in the country.According to the MIIT publication, traceability, data sharing and supply chain management are some of the use cases for blockchain that could have a significantly positive impact on the real economy.In the area of finance, the MIIT publication called for the promotion of a greater intersection between blockchain and other emerging technologies like cloud computing, AI and the internet.The MIIT’s proposal for blockchain adoption for public utilities also included concepts like smart cities and the utilization of the novel tech in government services.

Bitcoin drops below $36K as century-old financial model predicts big BTC crash

A push to $40,000-$42,000 won't protect Bitcoin from risks of undergoing a major price decline later, suggests a century-old price prediction model created by technical analyst titan Richard Wyckoff. Overconfident Bitcoin (BTC) bulls would need to battle more than just Elon Musk as a price prediction model — created by technical analyst pioneer Richard Wyckoff more than 100 years ago — also goes against their wild upside predictions.Dubbed as Wyckoff Method, the model involves a five-phase approach to determine price trends that majorly involve investors' psychological reaction to an asset's supply and demand.

Bullish for Bitcoin? Miners and Hodlers Refuse to Sell as Stablecoin Supply Ratio at Lowest

Hodlers and miners refuse to sell, the Stablecoin Supply Ratio sits at an ATL for a week - is bitcoin primed for a massive price surge?

Biden Administration Seeks to Expand Crypto Tracking to Fight Ransomware

This weekend's ransomware attack on JBS has threatened the country's food supply.

Pre-2019 Bitcoins now make up just 44% of the BTC active supply

Despite the May sell-off, strong hands are mostly holding firm at prices which seemed impossible two years ago.

76.7% of Bitcoin Supply is Illiquid- What This Means

On-chain analyst William Clemente III noted that Bitcoin price could continue going up in the long term because 76.7% of Bitcoin is illiquid.

76.7% of Bitcoin Supply is Illiquid- What This Means

On-chain analyst William Clemente III noted that Bitcoin price could continue going up in the long term because 76.7% of Bitcoin is illiquid.

Bitcoin Will Reach $12,500,000 by 2031, According to Robert Breedlove – But There’s a Catch

The chief executive of crypto consulting firm Parallax Digital is predicting the massive expansion of the US dollar supply in the next ten years, which he says will ignite Bitcoin’s meteoric rise to $12.5 million.

Bitcoin Supply Gets Back to Long-Term Holders

Bitcoin supply is finding its way back in the hands of long-term holders.

Privacy Protection: The Future of DeFi

On April 22, MakerDAO, known as the DeFi world’s ‘central bank’, in partnership with the financial supply chain project Centrifuge, completed the first real-world asset loan in DeFi (decentralized finance).

Fed’s Daily Tapering Increases by 23%- Tuesday’s Reverse Repo Removes $432 Billion from Market

Since well before the onset of Covid-19, the US Federal Reserve had initiated monetary easing policies and from then on, the M1 Money Stock supply skyrocketed to levels never-before-seen in history.

Whole Earth Foundation burns 70% of the total token supply

To the Whole Earth Community, The Whole Earth Coin, we believe, is a truly unique project with a mission that distinguishes us from other projects within the crypto space.

Iran to Shut Down Licensed Crypto Miners in Peak Hours of Power Consumption

Citing a need to maintain a stable electricity supply for other users, Iran will be pulling the plug on cryptocurrency mining farms whenever power consumption peaks.

Elon Musk Invented Bitcoin, if You Ask Half of Australians Polled by Finder

Australians have been learning more and more about cryptocurrencies but it turns out some myths and misconceptions are still widespread among the general public Down Under.

SUKU's New NFT Platform Claims to Be 'Carbon Negative'

The supply-chain-as-a-service company has launched an NFT platform called INFINITE, which makes use of Hedera Hashgraph's proof-of-stake network.

More than half of Australians think Elon Musk invented Bitcoin: Survey

Over 40% of respondents were unaware that Bitcoin had a limited supply.

Ethereum Co-Creator Vitalik Buterin Burns $6,700,000,000 Worth of Dog-Meme Crypto

Ethereum co-founder Vitalik Buterin has burnt billions of dollars worth of Shiba-Inu coin (SHIB) after being gifted half the supply of the meme crypto asset by its founders.

EY invests $100 million to expand blockchain product suite, launches DeFi contract simulator

Ernst & Young is investing $100 million into targeting enterprise DeFi with its latest suite of Blockchain Analyzer products. “Big Four” accounting firm, Ernst & Young Global Limited, or EY, is continuing to invest heavily in blockchain, investing $100 million into engineering and developing distributed ledger technologies for a range of enterprise applications.On May 17, EY revealed its second-generation of Smart Contract & Token Review tools through its EY Blockchain Analyzer product suite, including a testing studio allowing simulated smart contract execution for complex decentralized finance, or DeFi, applications.“The new iteration supports multiple new capabilities that are expected to be used in complex DeFi contract ecosystems,” EY announced, adding:“It offers a blend of compliance testing with traditional code review, and it supports customized smart contract tests and simulation of mainnet transactions.”Yael Tamar, the co-founder of asset tokenization firm, SolidBlock, recounted using the new studio to review smart contracts for property-backed security tokens, stating: “It was very beneficial to simulate how our contracts could perform on the network prior to deployment and test the contracts against widely known attacks in this market.” EY also revealed that Italian beer company, Birra Peroni, is using its Ethereum-based supply chain solution, “EY Opschain Traceability.” Peroni is using the supply train tracker to notarize company information and will mint nonfungible tokens to identify and track data for batches of Peroni beer.EY also announced the contribution of source code to a zero-knowledge-proof prototype compiler in the public domain. The firm’

Ethereum Hodlers are Increasingly Bullish as ETH Google Search Volume Doubles that of 2017

Ethereum investors are showing bullish signs as ETH supply on exchanges is decreasing.

Iranian crypto miners using household energy to face large fines

Iran is fighting against unauthorized crypto mining amid ongoing energy supply shortages. The Iranian government continues to closely monitor the cryptocurrency mining industry by initiating new measures against home crypto miners, according to a new report.Mostafa Rajabi, a spokesman for the Ministry of Energy of Iran, said that crypto mining with household electricity is not legal and thus, home miners will have to pay heavy fines if discovered, local news agency The Tehran Times reported Sunday.Crypto miners using household energy will be also required to provide compensation for potential damages caused to the electricity network, the official stated. Rajabi said that the government has undertaken these measures in order to get a handle on Iran’s power shortage — the result of foreign sanctions on hydrocarbons and decreased hydroelectric production due to less-than-average rainfall.  Rajabi stated that unauthorized crypto mining can damage the local power grid and lead to blackouts.

Vitalik burns $6.7B of Shiba to reward generous hodlers

Vitalik Buterin has burned nearly half of Shiba’s supply in response to the “generosity” of the ‘dog token communities.’ Ethereum co-founder Vitalik Buterin has burned nearly half of the supply of the popular Dogecoin clone, Shiba Inu (SHIB).In a statement embedded into the transaction on May 16, Vitalik Buterin explained why he decided to burn $6.7 billion worth of SHIB tokens, emphasizing the “generosity” of the “dog token communities.”“I’ve actually been impressed by how the dog token communities have treated the recent donations! Plenty of dog people have shown their generosity and their willingness to not just focus on their own profits but also be interested in making the world as a whole better.

DeFi growth helps push crypto’s share of the global money supply above 2%

The cryptocurrency market now accounts for 2% of the global money supply as DeFi and stablecoin growth point to steady increases in adoption. This year decentralized finance (DeFi) has proven to be a transformative sector for the cryptocurrency ecosystem and it is also making waves in among global financial markets as institutional investors become entranced with the potential to earn high yields on stablecoins, altcoins and Bitcoin. While the price action from Dogecoin (DOGE) has dominated the headlines in recent weeks, Delphi Digital has been chronicling the growth of the DeFi ecosystem on the Ethereum (ETH) network which has steadily been gaining strength over the past month.

Supply chains reimagined: Enterprise DeFi finances personal protective equipment

The development of enterprise DeFi use cases is underway, but mainstream adoption may take longer than expected. Supply chain management has historically been challenging due to issues, such as increased costs, consumer demands, financial risk, volatility and much more.

Ethereum Gas Fees Surge to a Monthly High, Supply on Exchanges Continues to Decline

Ethereum's total fees has hit a monthly high of 746.026 ETH.

Bitcoin Supply Lights Up With Activity Due To Trading Range Boredom

This three-months-and-counting consolidation period Bitcoin is in has many investors with the finger on the trigger.

Biden Economics: US Jobs Report Lackluster, Unemployment Extensions Hammer Supply Chain, Americans Want More Stimulus

Recent headlines in numerous publications claim the US economy is set for rapid expansion and a “post Covid boom” thanks to Joe Biden’s economic plans.

PS5 stock is hard to find — but sites that accept crypto are coming to the rescue

PS5 shortages have been going on for months, but paying with crypto could enable you to access an untapped supply that other shoppers may not know about. It was one of the most-anticipated releases of a games console for years — the PlayStation 5. Sony’s latest hi-spec model also couldn’t have come at a better time.

Dogecoin an ‘invaluable fad‘ that will help the cryptocurrency space, says exec

Yo-yo, Tamagotchi... Dogecoin! The rapid emergence of Dogecoin (DOGE) as the fourth-largest cryptocurrency by market capitalization has led some to perceive the meme coin as a mere fad — something very much here today, but doomed to be gone by tomorrow. But in the unlikely event that Dogecoin actually disappeared tomorrow, its lasting impact on the cryptocurrency space leaves a legacy far beyond what yo-yos and Tamagotchis supplied to bored kids in the pre-internet days. Founder of Bitcoin Centre NYC and the Zap Protocol, Nick Spanos, believes Dogecoin is indeed a fad — but an invaluable one. “DOGE is a fad, within a growing movement that is here to stay,” said Spanos, adding that the hype created by Elon Musk’s appearance on Saturday Night Live, which resulted in a 38% price crash, would ultimately bring more eyes to legitimate projects in the crypto space. Dogecoin’s perceived lack of utility stems from the unequal distribution of its coin supply, its inflationary coin production, and its general lack of development since the early founders packed up and left. But that needn’t be a reason to ignore the utility Dogecoin does bring to the table, said Spanos, who pointed out the massive surge in interest Dogecoin had already brought to the crypto space: “DOGE is a powerful marketing tool, driving attention and adoption of crypto and decentralization as a concept.

Ethereum is Experiencing Consistent Supply Depletion Due to Massive Exchange Withdrawals

Ethereum is leaving crypto exchanges, causing a huge supply deficit.

Almost twice as much ETH locked in DeFi as on exchanges: Glassnode

While the amount of ETH locked in DeFi protocols is up 75% since the start of 2020, the sum of Ether held on centralized exchanges has fallen by 30% over the same period. Ether is being locked up in decentralized finance contracts at an accelerating rate this year, while the amount held on centralized exchanges continues to fall. On May 7, on-chain analytics provider, Glassnode, shared a chart comparing the number of Ether deposited in Ethereum-based smart contracts to the number of ETH held on centralized exchanges over the past 17 months. Since the start of 2020, the share of supply represented by Ether on centralized exchanges has dropped more than a quarter, from roughly 17% to 12%. Over the same period the percentage of ETH locked in smart contracts has increased by three quarters, from 13% to 22.8%, showing that DeFi is steadily eating into centralized exchanges’ profits from Ethereum trading fees. Ether supply in smart contracts vs Ether on centralized exchanges: GlassnodeFigures from crypto data aggregator DeFi Llama suggest that ETH equivalent to roughly 9% of the supply is locked in smart contracts hosted by networks other than the Ethereum mainnet. DeFi Llama estimates that 8.3 million coins or 7% of circulating Ether is locked in Binance Smart Chain protocols, while 286,153 Ether or 0.25% of supply is on Solana, and 103,902 ETH 0.09% is on Avalanche.

UFC to launch MMA fan token on Chiliz blockchain

Debuting in June, the new UFC fan token will have a maximum supply of 20 million. The Ultimate Fighting Championship, the largest mixed martial arts association in the world, is launching its own blockchain-based fan token. The UFC officially announced Tuesday that it will debut a UFC Fan Token on fan engagement and rewards app Socios.com.

Binance CEO warns of CBDC drawbacks as digital dollar pilots proceed in US

CBDCs will never offer the same freedom of use as cryptocurrencies like Bitcoin, according to Binance CEO Changpeng Zhao. Cryptocurrencies like Bitcoin (BTC) and Ether (ETH) will co-exist “for a while” with more restrictive digital currencies like China’s digital yuan, Binance CEO Changpeng Zhao said in a Bloomberg interview on Monday. According to Zhao, some of the key features of cryptocurrencies like Bitcoin (BTC) — freedom of use and limited supply — won’t be offered by central bank digital currencies.

Maker Foundation returns dev fund to DAO amid path to decentralization

The Maker Foundation has returned 84,000 MKR to the project’s DAO in a major milestone for the protocol’s road to decentralization. The MakerDAO Foundation has returned 84,000 MKR tokens from its development fund to MakerDAO’s governance module, marking a milestone in the project’s path to decentralization. In a May 3 blog post, the foundation notes that “no conditions or expectations” have been placed on MakerDAO regarding the returned tokens, with Maker Governance now having complete control over the tokens. The announcement states that with the return of the development and the completion of recent technical contributions to Maker’s liquidation engine and its DAO’s core unit framework, the foundation will now focus on working toward its own dissolution to further decentralize the protocol: “The Foundation now turns inward to focus solely on its dissolution.“ To manage and finance its transition to obsolescence, the Maker Foundation has retained less than one percent of MKR’s supply.

Glassnode predicts BTC rally as stablecoin supply tags record highs

Tether, USD Coin, Binance USD, and DAI are now worth more than $78 billion combined.

Binance charity fund is the latest to contribute to India's COVID relief efforts

Binance charity recently announced its efforts to contribute to the India COVID relief efforts, by aiding with oxygen supply operations.

Stablecoins on Ethereum Doubled in Q1 Thanks to DeFi

In the past year, the supply of stablecoins on Ethereum has increased nearly sevenfold.

Biggest Token Burning in History: Sensorium Burns Over $10B Worth of SENSO Tokens; Reveals NFT Functionality

Sensorium Corporation, the company behind the highly-anticipated digital metaverse Sensorium Galaxy, has burned 4.2 billion SENSO tokens reducing the existing supply by 70%.

Biggest one day USDC print in history marks lowest Bitcoin dominance in years

The $3 billion USDC influx puts the total supply of the stablecoin at around $14,4 billion, reaching over a quarter of Tether's market cap. More USD Coin (USDC) was printed on April 30 than at any time in the dollar-backed stablecoin’s existence, as just over $3 billion was minted in one fell swoop.

Ethereum Hits Record Price as Potential Supply Crunch Looms

Ethereum has rebounded from its price dip last week, once again setting a new all-time high.

Fund Manager Bill Miller Says Bitcoin Is Not a Bubble — BTC Entering Mainstream as Demand Grows Faster Than Supply

Bill Miller, the founder and chief investment officer of Miller Value Partners, does not think bitcoin is a bubble.

From Startup to Success Story — Morpheus.Network Is Transforming Global Trade With Blockchain

PRESS RELEASE. Blockchain-powered supply chain management platform, Morpheus.Network, has launched an updated platform, forged an Agribusiness agreement with the Argentinian government, and was a winner in the 2021 “Future of Ports” competition.

Morpheus.Network is transforming global trade with blockchain

Morpheus.Network is one of the world's leading supply chain ecosystems and is changing the face of the global trade industry in 2021.

USDC v. USDT: Could a 'flippening' be coming soon?

There seems to be no stopping the growth in the supply of stablecoins, but Coinbase-backed USDC, in particular, has reported massive gains this year to become the second-most used stablecoin in the ma The post USDC v.

Coinbase Pro Lists Tether as USDT Supply Approaches 50 Billion

US crypto exchange Coinbase Pro has finally listed the world’s most popular stablecoin, Tether.