BIS Innovation Hub work on central bank digital currency (CBDC) - cyptoranking.com

2024-05-10

Popular crypto exchanges(2023 Update) 2024-05-10
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Cryptonews: How do you see cryptocurrency regulatory clarity in Australia, at a time when several digital assets businesses are planning to establish themselves in crypto-friendly jurisdictions such as APAC? Chainlink Makes Fifth Breakout Attempt BIS Innovation Hub work on central bank digital currency (CBDC)Summary Even though SNARKs leads the race regarding gas fees, zk-STARK has great advantages too. Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARKs) is another type of cryptographic proof. The STARK protocol requires little to no interaction between both parties. This feature enables STARKs to prove transactions much faster and offer more computing power.

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Top NFT developer Yuga Labs will reduce its workforce and focus on its core initiatives. The move comes amid the record market downturn currently battling the broad NFT space. Ethereum FAQs Crypto 101: What you need to knowSource: AdobeStock / photo_gonzoAn analyst at Berenberg investment firm believes MicroStrategy is now a safer bet compared to Coinbase due to the exchange's regulatory issues. Mark Palmer, an equity research analyst at Berenberg Capital Markets, said the US Securities and Exchange Commission will likely file an enforcement action against Coinbase as the commission increases its scrutiny of the crypto sector. “Given the heightened uncertainty that Coinbase faces, we believe investors would be much better served investing in shares of MicroStrategy,” the analyst reportedly wrote.Shares of MicroStrategy, a software maker better known for being the largest public holder of Bitcoin, have increased more than 90% YTD, compared to a 63% increase in Coinbase's shares over the same period. The strong performance comes on the back of Bitcoin’s rebound in recent months. The flagship cryptocurrency has gained more than 60% YTD.According to Palmer, MicroStrategy is an “attractive alternative” to Coinbase given the regulatory pressures on the latter. The analyst also noted that the SEC has identified Bitcoin as a commodity while claiming that the majority of other crypto assets are securities. This makes MicroStrategy, which is a major holder of Bitcoin, an appealing choice for investors. “The SEC has characterized bitcoin as a commodity while asserting that most (if not all) other crypto tokens are unregistered securities, putting bitcoin and MSTR in advantaged positions amidst the regulatory onslaught."Palmer said the enforcement actions against crypto exchanges Kraken and Bittrex, as well as crypto lending platform Nexo, could be a preview of the SEC's approach to Coinbase.“We believe investors should be focusing on whether the company would have the ability to successfully pivot its business model and geographic focus if it were forced to curtail or cease a large portion of its activities in the US."SEC-Coinbase Relationship Continues to DeteriorateThe SEC has been in a legal battle with Coinbase as of late.Back in March, the commission sent a “Wells notice” to Coinbase, threatening the crypto exchange with legal actions regarding some of its listed digital assets, its staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet. In response, Coinbase CEO Brian Armstrong accused the agency of engaging in “some really sketchy behavior.”The exchange also filed a lawsuit with a federal appellate court in Philadelphia last month, alleging that "the SEC refuses to address Coinbase’s rulemaking petition" even as the agency aims to initiate enforcement actions against the firm for listing unregistered securities.However, the commission has asked a judge to reject Coinbase’s request to compel the commission to respond to the rule-making petition. It is worth noting that Armstrong has suggested that the exchange could leave the US if regulators don't clarify their approach to the digital asset space. "Anything is on the table, including relocating or whatever is necessary," he said during the Innovate Finance Global Summit last month.Solana Price Prediction as New Blockchain Update Provides Native Support for Private Transactions – Time to Buy? Additionally, there is a growing interest in advanced cryptographic methods like zero-knowledge (ZK) proofs and innovative technologies, such as sharding. Zero-knowledge proofs improve efficiency and privacy by enabling parties to validate transactions without disclosing private information. Sharding, a method for dividing the blockchain into smaller, more manageable parts, lessens the computational burden on nodes and speeds up the processing of transactions.

Throughout 2022, the Ethereum network underwent significant upgrades, which altered its coin issuance mechanism. This overhaul resulted in a substantial reduction in the number of new Ether tokens issued to secure the network and introduced a burn mechanism to further decrease the supply of ETH. The critic compared two videos related to Cardano’s update, Hydra, and claimed that Hoskinson’s video lacked information about serious use case limitations. What is the smallest amount of Bitcoin I can buy?Source: Traxer / UnsplashCrypto analysis firm K33 Research has suggested that investors consider shifting their focus from Ether (ETH) to Bitcoin (BTC) following Monday’s debut of Ether futures-based exchange-traded funds (ETFs) in the US.The launch of these ETFs, including offerings from VanEck, ProShares, and Bitwise, did not generate the same level of attention and trading activity as the introduction of Bitcoin futures ETFs in 2021.In a market update from Tuesday that was first reported on by The Block, K33 Research analysts Vetle Lunde and Anders Helseth said the Ether ETFs experienced unexpectedly weak performance, accumulating just $8.5 million in assets under management on their launch day.In contrast, Bitcoin ETFs amassed a substantial $576.5 million in AUM at their debut.Ether optimism has fadedIn their report, the two analysts pointed out that while the anticipation surrounding the Ether ETFs led to increased Ether futures premiums, this optimism quickly faded due to the lackluster results.Furthermore, the ETFs failed to reverse the ongoing trend of Ether's declining value relative to Bitcoin, which has persisted for over a year.Comparing this scenario to the 2017 launch of regulated Bitcoin futures contracts on the CME exchange in the US, Lunde and Helseth noted that it took years for institutional investors to embrace the Bitcoin futures market.This stands in contrast to the rapid adoption of Bitcoin futures ETFs in 2021.According to the analysts, this could mean that it is time to reallocate from Ether to Bitcoin."We no longer see a strong bull case for ETH/BTC in the short term," they said.Overall, the report said that traders are now divided in their outlook for the crypto market, with futures market data pointing to bearish sentiment while options data reveal a preference for bullish call options.Investigator Alleges Drug Cartel Links to Tron and Ethereum Crypto Wallets — Here's What You Need to Know Coinbase just expanded multi-chain availability for USDC on Polygon. We look forward to more efficient USDC transactions with this launch! pic.twitter.com/xrRxXKSs7f

The Powerpool (CVP) protocol is a governance-facing protocol that has seen similar trends to Holo (HOT) above. Just like Holo, there has been accumulation among whales holding $100,000 to $1 million. “High Active Addresses, Network Growth, $100K-$1M Whale Accumulation, Age Destroyed (Consumed),” the analyst writes. Web3 Community Launches Crypto Aid Israel Ledger: Hardware Wallet & Cold Wallet - Security for CryptoHourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. On the same day, there was a bearish candlestick pattern (red icon), and since then, the price has been on a downward trajectory.

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