Author: Yeek.io

Key Takeaways: Total Bitcoin spot trading volume on crypto exchanges declined from a high of $44 billion on Feb. 3, to $10 billion at the end of Q1. Binance’s share of total daily Bitcoin spot trading volume increased from 33% on February 3 to 49% by the end of Q1. Bitcoin prices showed increasing volatility, larger spot trading volumes favored Binance over other exchanges. Bitcoin and altcoin spot trading volumes have experienced a decline as the cryptocurrency market entered into a correction phase over the past two months, an April 7 CryptoQuant Report.The sharp downturn in prices has impacted the…

Homepage > News > Finance > Brazil’s largest commercial bank Itaú eyes stablecoin launch Stablecoins have garnered steam in recent months, and Brazil’s largest commercial bank has signaled an intention to roll out its version in the near future. According to a report, Itaú is considering a stablecoin launch to mirror the moves of its international counterparts in the U.S. Itaú’s Head of Digital Assets, Guto Antunes, revealed that the Brazilian bank’s decision to proceed with a stablecoin depends on the central bank. Antunes disclosed in an interview that apart from playing catchup with its international peers, the bank has identified several…

Aave’s tokenholders approved a governance proposal to start buying back the decentralized finance (DeFi) protocol’s governance token, AAVE, as part of a broader tokenomics overhaul, Aave said on April 9. The proposal — which was approved by more than 99% of AAVE tokenholders — permits the protocol to purchase $4 million in AAVE (AAVE) tokens, enough for one month of buybacks. The move is a “first step” toward a broader plan to repurchase $1 million AAVE tokens weekly for six months. It is also the latest instance of DeFi protocols implementing buyback mechanisms in response to tokenholder demands.“The goal is to sustainably increase…

South Korean police have raided a suspected illegal gambling den whose operator claimed it was a center for crypto mining.The news agency Yonhap and the media outlet Asia Kyungjae reported that Gwangsan Police Station in Gwangju, South Jeolla Province, announced on April 9 that officers are questioning the alleged den’s operator.Officers are holding the operator on suspicions of violating the Game Industry Promotion Act.South Korean Police Raid ‘Bogus Crypto Mining Center’Officers said they had confiscated 50 gaming machines and two kiosks from what they called an “unregistered office” in the city.Inside a suspected illegal gambling room in an office in…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure After a slight rebound on Tuesday to the $1,600 threshold, Ethereum‘s price was faced with notable resistance, which led to a sudden breakdown to $1,450. ETH’s persistent weak performance this year has impacted investor conviction in the market, triggering significant selling pressure in the past few weeks. Bearish Sentiment Toward Ethereum Grows On Binance The bearish sentiment toward Ethereum has increased in crypto exchanges, especially on Binance, the world’s largest cryptocurrency exchange. Verified author and on-chain expert for CryptoQuant, Darkfost, revealed that ETH’s Open Interest (OI) on…

Homepage > News > Business > Bitcoin mining isn’t profitable: Pointless apps are the problem Bitcoin mining, once a gold rush for tech-savvy enthusiasts, has become a tough gig for the average person. The days of racking up coins on a home PC are long gone. Now, it’s a game of industrial-scale rigs, cheap electricity, and razor-thin margins. But there’s a hidden culprit dragging profitability down further: the apps tied to mining are pointless. What miners need isn’t another dashboard or monitoring tool, they need an app that generates revenue directly. The mining profitability squeeze Mining Bitcoin involves solving complex…

DOGE was trading above a strong support with a bullish pennant signaling potential breakout. On-chain metrics remained weak despite a sharp rise in the Stock-to-Flow Ratio, suggesting renewed scarcity. Dogecoin [DOGE] continues to show strength as it maintains a steady uptrend since October 2023, now aligning with the critical 61.8% Fibonacci retracement level at $0.13. Despite short-term price fluctuations, this convergence presents a strong bullish signal, especially if price action remains above it.  Additionally, previous bounces from this level have often preceded upward moves. Therefore, all eyes are on whether Dogecoin can convert this structure into a launching pad for…

Ethereum researcher Virgil Griffith was released from prison custody on April 9, the Bureau of Prison (BOP) officials confirmed to Cointelegraph.According to crypto developer Brantly Millegan, Griffith will remain in a halfway house for several weeks while waiting to complete the next steps in his parole process.Griffith was arrested in 2019 for giving a lecture about blockchain technology and its power to circumvent US sanctions to an audience in North Korea.Virgil Griffith pictured in the center with his parents immediately following his release from prison custody on April 9. Source: Brantly MilleganThe US government claimed the researcher violated the International…

Exaion, a subsidiary of French electric utility giant EDF Group, is now a validator of Etherlink, the Tezos-powered layer 2 blockchain. Exaion, which offers high-performance computing and cloud solutions for blockchains, has joined Etherlink, an Ethereum (ETH) Virtual Machine compatible L2 powered by Tezos (XTZ) smart rollups, as validator.  The move follows a key milestone that saw Exaion join Tezos as a corporate baker in October 2020. As an EVM-compatible layer 2 platform, Etherlink enables non-custodial and seamless integration with Ethereum tools, leveraging Tezos’ rollup technology for scalability and accountability. Integration across the Ethereum ecosystem includes wallets and indexers. The…

Quick take: The company will support trading across millions of tokens, putting it in a position to rival popular centralised exchanges. Despite the declining transaction volumes in the NFT sector, Magic Eden co-founder and CEO Jack Lu said his company remains “incredibly bullish” on NFTs. Lu said Magic Eden generated $75 million in revenue last year, adding that the next phase of the NFT industry will be driven by usefulness. Magic Eden has announced the acquisition of the mobile-first on-chain trading platform Slingshot. The acquisition is part of the NFT platform’s expansion strategy and puts it in a position to…