1,032 addresses control over 51.2 million Litecoin (LTC) in circulation, on-chain data from BitInfoCharts on May 15.

Litecoin Under Siege?

Records from the Top 100 Litecoin Rich List show that 7,355,585 LTC in circulation worth $639,814,097 are controlled by 8.78% of all registered addresses. At the same time, 26,526,499 LTC worth over $2.3 billion is managed by 111 addresses, while 17,993,930 LTC exceeding $1.5 billion are held by 918 addresses.

As of May 15, there were 72,924,127 LTC in circulation. So this concentration alone means over 60% of all LTC in circulation are controlled by 1,032 addresses. Furthermore, the network will only dispense 84,000 LTC to miners as block rewards. 

Litecoin is a proof-of-work network like Bitcoin. It relies on a community of special nodes called miners to validate on-chain transactions and add them to the longest chain. For their participation, the lucky miner is rewarded 12.5 LTC per block every 2.5 minutes.

Based on the above statistics, whats notable is that the $2.3 billion of LTC at spot rates owned by 111 addresses represents the biggest concentration compared to any other range by address count.

To illustrate, 794,934 addresses holding between 0.01 and 0.1 LTC cumulatively own 29,508 LTC. With 794,934 addresses in this range, they are the highest number of LTC owners by wallet address count. 

However, considering their total holdings, these addresses are a minority since whales currently hold over 60% of the total circulating supply. Specifically, there are three whales with over 2 million LTC as of writing on May 15.

The largest LTC whale holds 2,504,667 LTC worth over $217 million. This address is active and constantly accumulates. Of note, the largest LTC whales began accumulating within the last five years from 2018. 

According to on-chain data by BitInfoCharts, the last time this address deposited LTC was on May 10, 2023. Meanwhile, the last withdrawal was in early January 2023.

For instance, the second largest LTC whale, with over 2.47 million coins, started depositing coins in mid-June 2022. He withdrew a por...

This is an opinion editorial by Nozomi Hayase, Ph.D., who has a background in psychology and human development. Disclaimer: Bitcoin 2023 and Bitcoin Magazine are both operated by BTC Inc.

With rising inflation and a growing number of bank failures, the dysfunctional nature of the fiat system becomes more apparent day by day. In the midst of this chaos, Bitcoin enthusiasts are staying calm, even generally hopeful about their futures.

As public trust in institutions weakens, governments around the world are gearing up for

central bank digital currencies (CBDCs) as a means of reasserting their authority over peoples money.

Thank God, we have Bitcoin!

Those of us who are fortunate to have found it are relieved that Bitcoin exists. As Christine Lagarde, the head of the European Central Bank once acknowledged, Bitcoin is an escape hatch from the financial surveillance state.

Bitcoin, the hardest money ever created, presents a real alternative to both current fiat currencies and CBDCs. Now, those who so choose dont have to go down the path leading toward a dystopian society. This might make us feel at ease. Some of you might think we can just HODL and maybe orange pill newcomers here and there, and simply wait for hyperbitcoinization. But I say, Not quite yet. We cant just sit back and relax.

We Bitcoiners have important tasks ahead: Bitcoin's battle against the fraudulent banking system is far from over. It is really only just beginning.

The Battle Is Beginning

Bitcoin, over the 14 years since its creation, has been slowly unveiling its revolutionary potential. Bitcoin is a form of digital gold that cannot be confiscated. As a saving technology, it provides inflation proofing, allowing us to store value securely. Its core feature of censorship resistance has also helped it to gain popularity, since the importance of having freedom money has become clearer to political dissidents and the oppressed the world over.

Now that the COVID-19 pandemic has wound down, and the...

How to create a $100M memecoin with ChatGPT, $50K portfolio handed over to AI targeting 500% return, and will writers have a job in future?

Data shows there has been a large spike in interest around stablecoins recently, a sign that investors of Bitcoin and other assets may be looking to exit.

Stablecoins Have Observed A Sharp Rise In Social Volume Recently

According to data from the on-chain analytics firm Santiment, there has been a major uptick in the social volume of the stablecoins recently. The social volume refers to an indicator that measures the total number of social media text documents that are talking about a certain topic or term.

The social media text documents here have been collected by Santiment and include a variety of sources like Reddit, Twitter, Telegram, and other internet forums.

Something to note about the metric is that it only tells us about the unique number of such posts that are mentioning the given term at least once. This means that even if a thread includes several mentions of the topic, its contribution towards the social volume will still remain only one unit.

The social volume can provide insight into the degree of attention any particular coin is getting on social media platforms. Whenever this indicators value goes up, it means that the general interest in the asset among investors is rising currently.

Now, here is a chart that shows the 7-day change in the social volume for the various assets in the cryptocurrency sector (including the stablecoins):

As displayed in the above graph, the social volume of a lot of the volatile assets has registered a negative 7-day change, implying that there is a lesser amount of discussion happening related to them right now as compared to a week ago.

Some of the assets like Bitcoin have seen a positive 7-day change in the metric, but the increase has only been minuscule for them, implying that their social volume is relatively unchanged.

Interestingly, while the volatile assets may have seen decreasing or sideways-moving social volumes, the stablecoins have seen a completely different trend with the metric; their social volumes have sharply surged in the past week.

USD Coin (USDC), which is the stablecoin second only to Tether (USDT) in terms of market cap, has seen an extraordinar...

The number of on-chain Ripple (XRP) transactions on the XRPL is down 65% from 2.5 million on March 19 to less than 900,000 on May 14, 2023.

XRP Transactions Crashing

As of May 14, 2023, 852,000 transactions were processed by the XRPL, a decentralized blockchain network by Ripple Labs curated for fast value transfer. This represents a 65% drop from March 19 peak when the total number of transactions on the XRPL stood at over 2.5 million.

Notably, there has been no solid technical reason, such as blockchain or node vulnerability in the XRPL, during this period to explain the contraction in transaction count.

However, whats evident is that the crypto market has been under pressure in the last two months from March to May 2023. This might have contributed to the drop in the number of on-chain transactions.

On March 29, XRP prices peaked at around $0.58. This was 10 days after the XRP transaction count surged to the highest level on March 19. From the second half of March, however, transaction count and XRP prices have been falling.

XRP prices are down 27% to $0.42 as of writing on mid-May, down from $0.58 registered on March 29. However, whether XRP prices will continue to track lower, mirroring the number of XRPL transaction count, remains uncertain.

Overall, the number of on-chain transactions can directly influence transaction fees and prices. Moreover, it can provide insight into the level of demand for the cryptocurrency and the blockchain network. The more demand for the underlying networks token, the higher the trading volumes, and this upsurge can influence prices. 

On the XRPL, users pay fees using XRP. Therefore, the higher the demand for XRP in transaction settlement, the more upward pressure there will be for the native currency. 

The contraction in the number of XRP transactions is at the back of declining prices. Nonetheless, it should be noted that the drop in XRP prices wasnt an isolated event. Like the other crypto prices, XRP and top coins, including BTC and ETH, have been retracing from recent peaks registered in March and April 2023. 

As an illustration, after surging to as high as $31,000, BTC prices have since dropped, falling to as low as $25,800 on May 12.

Meanwhile,  XRP is currently trading at $0.41, down from $0.58 posted in late March 2023.

The SEC-Ripple Case

The drop in XRP transaction count can also be due to market sentiment as the community monitors the ongoing SEC-Ripple case which might end this year.

The advantage of Web3 is that it grants users ownership of their data. Creators will be able to treat their data as their own personal property and be paid for whatever content they create, and others consume.

The export privilege ban comes from Griffiths conviction and further impacts his involvement in international trade and transactions.

Fans help the flow of air so that Bitfarms mining rigs can stay cool. (Eliza Gkritsi/CoinDesk)

Eun Young Choi (Nikhilesh De/CoinDesk)

The G-7 summit is set to take place in Hiroshima, Japan this year. (Getty Images)

Celsius ETH staking with Figment (Arkham Intelligence)

Doge CEO, the cryptocurrency inspired by Dogecoin, has witnessed an extraordinary surge, skyrocketing nearly 200% in the face of an ongoing mania surrounding meme coins. 

As investors continue to embrace the eccentricity and unpredictability of the crypto world, Doge CEO has emerged as a captivating contender in the market. 

Fuelled by the same irreverent spirit that propelled Dogecoin to unexpected heights, Doge CEO has managed to capture the attention of investors searching for the next big hit in the realm of meme-inspired cryptocurrencies.

Doge CEO: Investor Optimism In The Meme Coin Revolution

The remarkable growth and upward trajectory of Doge CEO token exemplify the continued enthusiasm among retail investors for the burgeoning meme coin revolution. 

In an astounding turn of events, the price of DOGECEO on CoinGecko has reached an infinitesimal value of $0.000000000007182, marking a surge of 4.9% in the last 24 hours and a staggering rally of 196.7% over the past week.

The Dogecoin clone has garnered attention from experts who consider it an opportune moment to establish significant holdings. Nevertheless, it is important to exercise caution, as the inherent volatility within the meme coin landscape warrants prudence.

The increasing popularity of the Doge CEO token demonstrates the lasting appeal of meme coins to individual investors. As these investors actively engage in the market, their strong inclination towards meme coins continues to be apparent.

With its status as a low-cap meme coin, DOGECEO has become a focal point for those seeking potentially lucrative opportuniti...

(Shutterstock)

(Getty Images)

A daily newspaper in Ireland released a statement saying it was deliberately deceived into believing the identity of a guest writer, which turned out to be AI.

This is an opinion editorial by Robert Hall, a content creator and small business owner.

If you follow U.S. politics, you understand that the country is on the brink of defaulting on its massive $31 trillion debt.

At the crux of the issue is that there are Republicans in one corner, who control the House of Representatives with a slim 222 to 213 majority. In the other corner, the U.S. Senate and the White House, under Joe Biden, are controlled by Democrats.

Both parties are diametrically opposed to what the other wants. Republicans want to significantly cut spending in order to raise the debt limit for a year. Democrats want a clean debt ceiling bill passed without strings attached. As you can see, both parties starting positions are nowhere near each other. Ultimately, this has turned into a game of chicken based on who will blink first. Its all very tiring.

Is this the way a government should be run? It is absolutely crazy that these leaders would risk defaulting on money that has already been spent. This is like if you or I whipped out a credit card, went crazy buying all kinds of stuff, and did not make the monthly payment at the end of the month.

The government has been able to run up the debt for a long time because it has had willing participants, such as pension funds, hedge funds, sovereign wealth funds and regular joes who lent them money by buying treasury bills because they believed they would be paid back with interest.

This has been the case for a long time, but now this arrangement is being called into question with the will they, wont they bull going on in Congress right now.

Seriously Broke

Are these politicians so detached from reality to think that, once the debt limit is breached and people stop getting paid what is owed to them, people will go right back to loaning them money?

If they do, they will demand even higher interest rates. The government cant even afford the rates we have now! What happens if the borrowing cost for the government goes to 10...

The Bitcoin Inscriptions craze is spreading to Dogecoin. The number of transactions that the Dogecoin blockchain has had to process in the last few days have risen to an all-time high, mainly due to the new DRC20 token standard.

DRC20 tokens on Dogecoin are an experimental token standard that works similarly to the minting and transfer of fungible tokens via the Ordinals protocol on the Bitcoin blockchain. Technically, this is possible because Dogecoin was created by inventor Billy Markus forking Lucky Coin, which is itself a fork of Bitcoin.

Dogecoin Transactions Surpass All-Time High By 3x

In the last 7 days, the number of transactions recorded on the Dogecoin blockchain have skyrocketed. Before the DRC20 token standard was created, the Dogecoin network recorded no more than 23,754 transactions per day throughout May, according to data from BitInfoCharts. Last Saturday, May 13, Dogecoin saw a staggering 628,209 transactions.

To put that in perspective: The highest number ever recorded before this new alltime-high was on December 20, 2013, when the network processed just 201,440 transactions. In comparison, the total number of transactions that took place on Saturday (628,209) is more than three times the historic high from 2013.

The madness first started rolling on Tuesday, May 9, when the transaction count doubled to over 40,000 and remained at that level over the next three days. On 11 May (Thursday) the Cambrian explosion occurred when the number of transactions rose above 450,000 for the first time. The sudden surge in transactions is mainly due to the registration process used to create the Doginals and DRC20 tokens.

#Dogecoin transactions are skyrocketing. New ATH is 3x the previous (Dec. 2013)

Why? The new DRC20 Tokens and "Doginals" pic.twitter.com/20DXWjYGTh

Jake Simmons (@realJakeSimmons) May 15, 2023

DRC20 And Doginals Spark Controversy

In response to the emergence of DRC20 tokens, many members of the community enthusiastically began exploring and minting these tokens. However, Dogecoin core maintainer Patrick Lodder has little enthusiasm for the new trend. Json doginals minting scams,...

A lawmaker allegedly sold over $4 million in cryptocurrency prior to the countrys enforcement of the Travel Rule from the Financial Action Task Force.

Zero-knowledge proofs could be a viable means to address recent network congestion and high fees on the Bitcoin blockchain.

trading data (AhmadArdity/Pixabay)

Pepecoin (PEPE) has recently gained significant attention on social media platforms, outperforming Bitcoin in terms of buzz and hype.

As the cryptocurrency market continues to evolve rapidly, the power of social media in driving prices and market sentiment cannot be underestimated. 

With Pepecoin generating a surge of interest and excitement among investors and traders, the question now arises: could this trigger a renewed bullish run for PEPE?

Pepecoin, named after the popular Pepe the Frog meme, has emerged as a promising new player in the cryptocurrency space. Its community-driven approach and unique branding have attracted a loyal following, which has helped it gain traction on social media platforms like Twitter and Reddit. 

Pepecoin (PEPE) Emerges As A Social Media Darling

Pepecoin (PEPE) has taken the cryptocurrency world by storm, surpassing Bitcoin and other popular digital assets in terms of social media buzz. This newfound attention has triggered a surge in discussions and mentions of PEPE on various social media platforms, as tweeted by LunarCrush, a leading social analytics platform. 

TRENDING

$pepe is now leading social engagement activity, even higher than #bitcoin at the moment.

This metric indicates extremely heavy community participation in social posts, measured by likes, retweets, comments, bookmarks, influential account participation, and more. pic.twitter.com/5omzcenzKN

LunarCrush (@LunarCrush) May 13, 2023

The platforms data reveals that PEPE has emerged as the frontrunner in social engagement activity, outperforming even Bitcoin and Shiba Inu (SHIB) in this metric. While Bitcoin claimed the second spot, Shiba Inu lagged behind in seventh place.

With millions of users actively discussing and sharing information about digital assets, social media platforms have become breeding grounds for hype and speculation. 

LunarCrushs data indicates that PEPE has managed to capture the attention and enthusiasm of crypto enthusiasts, generating a significant level of social engagement. This surge in online activity suggests that investors and traders are closely monitoring PEPE and may be considering it as a potential investment opportunity.

...

Data from BitcoinInfoCharts, an analytics platform, shows that there are far more tweets about Bitcoin than Dogecoin despite the spike of meme token activity in the past month.

Tweets About Bitcoin Exceed Those Of Dogecoin

As of May 14, there were over 200,000 tweets related to Bitcoin. In contrast, users only posted roughly 4,800 tweets about the first meme coin, Dogecoin. Whats interesting is that this trend has been constant even with the spike in meme token activities over the past month.

Bitcoin is the first blockchain project and the most valuable cryptocurrency that some governments have adopted. Trading at over $27,000 as of May 15, the coin dominates the crypto scene. It has remained resilient even in the recent crypto winter. 

As dominance data shows, Bitcoin is preferred by traders despite the rise of meme tokens like Pepe Coin (PEPE) and Dogecoin.

For context, after rising to as highs as $0.70 during the last bull cycle, Dogecoin prices plunged by over 90% throughout 2022, falling to as low as $0.05. 

During the last Bull Run, between April and May 2021, there were more tweets about Dogecoin than Bitcoin. For instance, as of April 16, 2021, there were 3,000 tweets about Dogecoin than Bitcoin. However, this was the last time there were more tweets about Dogecoin than Bitcoin.

Since then, the number of Dogecoin tweets has fallen, following DOGE prices which also began crashing in May 2021. And although Bitcoin prices peaked at over $69,000 in November 2021, they also contracted in subsequent months, dropping to as low as $16,000 in late 2022. Still, there were more tweets about Bitcoin than Dogecoin throughout the bear market of 2022.

Fortunately, DOGE and BTC prices have since recovered from the pits of 2022. DOGE prices rose 115% from H2 2022 lows to $0.105 in April 2023. At that time, BTC rallied from below $16,000 to as high as $31,000.

Tweets Arent Everything

Typically, the number of tweets about a cryptocurrency project can be used to measure popularity. The more there are tweets related to a crypto project, the more likely that it could be trending and that the crypto community is engaging with the platform. 

Even so, in most cases, considering the misuse of bots, the credibility of those tweets should be questioned. Depending on the popularity of projects, some rogue actors can be paid to spam the platform, incre...

Amazon will reportedly use AI to minimize product-customer distance, highlighting its impact on transportation, product search and inventory.

Bitcoin bulls and bears battle for control of a key area on the BTC chart, with network fundamentals due new all-time highs.

(Mark Van Scyoc/Shutterstock)

Shiba Inu is causing significant losses for its investors. Recent data reveals that the hype surrounding SHIB, the once darling of the meme coin industry, may have led many investors astray.

At the time of writing, a staggering 80% of all Shiba Inu token address holders are experiencing losses on their holdings, a fact that is causing concern among cryptocurrency enthusiasts and investors alike.

Despite the initial excitement surrounding Shiba Inu, it appears that the reality of the situation is starting to set in for many investors.

With such a high percentage of token holders not expected to make any kind of money as of yet, it is clear that the hype train may have been running a little too fast.

This sharp downturn in the market has left many crypto capitalists wondering what happened and whether their investments will ever recover.

Shiba Inu Token Holders Suffer Losses, Data Shows Addresses Unprofitable

New data from IntoTheBlock indicates that the majority of Shiba Inu token holders are experiencing losses on their holdings.

As of now, four out of five SHIB investors are holding unprofitable addresses, equating to 991,440 addresses with 497 trillion tokens valued at around $4.4 billion. This leaves only $668.4 million worth of SHIB that is currently profitable to its holders.

The situation is further complicated by the fact that many of these unprofitable addresses purchased SHIB at the $0.000009 to $0.000014 price range.

According to data, there are 348,170 such addresses, holding an enormous volume of 281.12 trillion SHIB. 

At present, the Shiba Inu token is ranked sixth among the largest cryptocurrencies in terms of the ratio of loss-making addresses to profitable ones.

Recent SHIB Prices Raise Concerns About Long-Term Holding

The current price of Shiba Inu token, listed at $0.00000892 per token on CoinGecko, is drawing attention due to its recent pricing history.

...

The legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) in the US District Court of Southern New York is still awaiting a ruling from Judge Analisa Torres. Just last week, Ripple CEO Brad Garlinghouse downgraded expectations, stating that a ruling would likely come in two to six months rather than the first half of 2023.

However, this is not stopping Ripples Chief Legal Officer (CLO) Stuart Alderoty from continuing to attack the SEC and expose its unlawful legal practices. Via Twitter, Alderoty shared a court decision over the weekend that shows just that.

Ripple CLO Exposes Unlawful Guidance By SEC

Specifically, it concerns the common enterprise issue that is a component of the Howey test. The Ripple CLO writes that in the 1946 Supreme Court case Howey, the SEC unsuccessfully tried to pull off a trick that it is unpacking again today. At the time, the SEC wanted to enforce that an investment in a common enterprise was not required as long as there was a common interest.

The SEC was wrong then and it is wrong now. Common Interest Common Enterprise, wrote Alderoty, who also shared the text of the writ. XRP community attorney John E. Deaton added that the SECs framework for digital assets ignores just that:

The SEC is so arrogant that it ignores the law and brags about it.

The SECs website, where the Framework for Investment Contract Analysis of Digital Assets can be found, states that in order to satisfy the common enterprise aspect of the Howey test, federal courts require that there be either horizontal commonality or vertical commonality (Revak v. SEC Realty Corp.).

The Commission, on the other hand, does not require vertical or horizontal commonality per se, nor does it consider a common enterprise to be a distinct element of the term investment contract.

On that basis, Alderoty said in a follow-up tweet:

The Revak case exposes yet another SEC sleight of hand. Without a common enterprise it matters not whether the fortunes of investors are tied to the efforts of others. The Howey test is not so easily satisfied.

Whether Judge Torres will agree and rule in Ripples favour remains to be seen. The pressure on the judge is likely to be int...

Bitcoin would be a more popular safe haven than the U.S. dollar, the Japanese yen or the Swiss franc, according to a new survey.

There's a one-month wait before ether holders can stake their tokens on the network. (Markus Winkler/Unsplash, modified by CoinDesk)

Explore how to use a VPN for enhanced online security and privacy using step-by-step instructions.

Eun Young Choi, the first director of the National Cryptocurrency Enforcement Team (NCET), has told reporters that crypto-related crimes have risen significantly in recent years. Through her team, the United States Department of Justice (DoJ) now plans to go after rogue exchanges that knowingly allow criminals to launder money.

NCET Wants Exchanges To Be Compliant

The Financial Times reports that Choi is concerned about the spike in crypto-enabled crimes and is setting their eyes on cryptocurrency exchanges, mixers, and tumblers. 

Open-source token mixers such as Tornado Cash, a protocol that United States authorities have already sanctioned, are widely used by criminals to launder stolen assets. Because they make it hard for authorities to trace transactions on public ledgers, hackers are actively exploiting these tools to obfuscate transactions and evade justice.

NCET and the DoJ will go after crypto companies that, though compliant with existing laws on paper, have allowed themselves to be used by criminals; a development that Choi says is problematic.

By targeting these rogue agents, the director said they would send a deterrent message and hope their involvement would have a multiplier effect. 

Specifically, NCET seems to have a problem with cryptocurrency exchanges that skirt anti-money laundering rules and those which dont comply with know-your-customer (KYC) laws. The enforcement team says going after them could make them invest more in risk-mitigation procedures and comply more with existing rules.

Binance, the worlds largest cryptocurrency exchange, is reportedly one of the exchanges on the radar of the DoJ. Unconfirmed reports suggest that the DoJ, among other agencies, including the United States Securities and Exchange Commission (SEC), is investigating the Changpeng Zhao-led exchange for violating established rules.

US Governments Position On Crypto

President Joe Bidens administration has taken a relatively tough stance on cryptocurrencies. Regulators in the United States have been in recent months going after companies they deem to be non-compliant, especially after the collapse of FTX, a cryptocurrency exchange.

The position adopted in the United States, especially on regulation and enforcement, could be one of the strictest in the world. Several officials and policymakers in the country strongly believe cryptocurrencies can pose a significant risk to the stability of their financial infrastructure, which could also impact national security.

In that regard, steps have been taken to increase overs...

The collaboration will have both parties researching the offline capabilities of the CBDC issued by South Koreas central bank.

Various Money Cash Dollar Bills Currency (Unsplash)

The U.S. Justice Departments top crypto cop said that it was a pretty significant issue, given the rise of North Korean state-sponsored hackers.

The seller even got help from Bitcoin founder Satoshi Nakamoto, though it's still up in the air whether the artist actually made the "sale."

The Reserve Bank of Zimbabwes first gold-backed cryptocurrency sale has been a success.

The post New Tech Scares Bitcoin | This Week in Crypto May 15, 2023 appeared first on 99 Bitcoins.

Binance is exiting the Canadian market, the congested Bitcoin network calls for urgent actions, and

New Tech Scares Bitcoin | This Week in Crypto May 15, 2023 Read More

1.00 AUD = 0.00002 BTC
0.00010 BTC = 4.10 AUD
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0.00010 BTC = 2.73 USD
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Existing and new investors will contribute to the $100 million, according to someone familiar with the situation.

Checks Elements (Visualize Value)

(twomeows/Getty Images)

Convicted buyers have bought up cheap Bitcoin as prices fell over the course of last year.

The SEC originally wanted LBRY to pay millions of dollars in penalties, but now concedes the defunct firm cant pay up that amount.

Bitcoin may be up 7.5% since May 12, but BTC price action is not giving everyone cause for positivity.

While most coins are reeling under pressure, Bitcoin and select altcoins such as ADA, ATOM, LDO, and ARB are showing promise.

<p>Ethereum developers have taken measures to address the finality issues that occurred on the Beacon chain in the past week. On May 11 and May 12, the Beacon chain, the consensus layer of the Ethereum network, was unable to reach finality on two occasions. The first occurrence lasted for 25 minutes, and the second for over an hour. </p> <p>Although the exact cause of such an incident is yet unknown, it is worth stating that this network glitch had no impact on on-chain activity and transactions were still processed. </p> <h2>Ethereum Developers Roll Out Network Patches To Tackle Finality Challenge </h2> <p>In response to the past week, Ethereum developers have released patches to provide a solution for network users.</p> <p>According to a <a href= "https://twitter.com/superphiz/status/1657303471098404866?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1657303471098404866%7Ctwgr%5E68366f75bd68b38616a3d08f4dc0ac6146fefb19%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.cryptopolitan.com%2Fethereum-developers-address-finality-issues-in-beacon-chain%2F" rel="noopener nofollow" target="_blank">tweet</a> by Beacom Chain community health analyst superphiz, Teku and Prysm, two of Ethereums constitutional clients, have implemented these fixes, which will help prevent further finality issues on the Beacon chain. </p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en">We can start putting this loss of finality issue behind us, <a href= "https://twitter.com/Teku_ConsenSys?ref_src=twsrc%5Etfw" rel= "nofollow">@Teku_ConsenSys</a> and <a href= "https://twitter.com/prylabs?ref_src=twsrc%5Etfw" rel= "nofollow">@prylabs</a> have deployed fixes that will prevent the attestation flooding. This is one step on our diversity & decentralization journey, let's learn from it and move forward with greater purpose. pic.twitter.com/cSRgPTWeuy

superphiz.eth <img alt="" class="wp-smiley" src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f987.png" style="height: 1em;"><img alt="" class="wp-smiley" src= "https://s.w.org/images/core/emoji/14.0.0/72x72/1f50a.png" style= "height: 1em;"><img alt="" class="wp-smiley" src= "https://s.w.org/images/core/emoji/14.0.0/72x72/1f6e1.png" style= "height: 1em;"> (@superphiz) <a href= "https://twitter.com/superphiz/status/1657303471098404866?ref_src=twsrc%5Etfw" rel="nofollow">May 13, 2023</a></p> </blockquote> <p>Superphiz also shared a statement from the Ethereum Foundation in which they are speculating the cause of these exceptional scenarios to be the high load of some Consensus Layer clients. </p> <p>The Ethereum Foundation applauded client diversity which made it feasible for transactions to occur on the network, as not all client implementations were affected by the finality challenges.</p...

KAVA, the utility token of decentralized blockchain Kava, has been on a strong bullish trend in the last few days. The cryptocurrency maintained this momentum despite the bearish market sentiment in the past week, garnering an impressive 31% price gain.

To end what was a largely positive week, a proposal to initiate the first phase of Kava Horizon was submitted by the Layer-1 ecosystem.

KAVA Price Overview

Recently, the KAVA token has been on a positive price rally, gaining more than 30% of its value in the last seven days. For long-term investors, this may be seen as some form of recovery, as the coin had not been performing well until a week ago.

To put this into perspective, the token has only increased by 1.6% in the past month. In fact, up until the 8th of May, the price of KAVA was on a steady decline, losing nearly 29% of its value in three weeks.

That said, an upward price movement that started a week ago has seen the token climb up to its previous high of $0.96. As of this writing, KAVA is valued at $0.969, tallying a 4.7% increase in 24 hours. 

This latest price increase has been linked to the upcoming upgrade on the mainnet. Scheduled for 17th May, 2023 (15:00 UTC), the Kava 13 upgrade aims to bring architectural enhancements to the security, scalability, and functionality of the network. Consequently, this will help developers to scale and accelerate their protocols and improve user experience across the ecosystem.

Only 1 week until #KAVA 13 mainnet launch #EVM #Cosmos pic.twitter.com/eASPUSC5j9

Kava (@KAVA_CHAIN) May 10, 2023

According to CoinGecko data, KAVA has a market capitalization of $495.5 million, which places it as the 90th largest cryptocurrency in the market. It is, however, worth noting that the tokens daily trading volume has dipped by 51.7% to $21.9 million in the last 24 hours.

Kava Submits Proposal To Initiate Horizon

On May 13, 2023, Kava advanced its plans to implement the first...

While the global crypto market capitalization has plunged in the past week, with most coins trading in the red, Bitcoin SV (BSV) bucked the bears. BSV has scored 10% price gains on the weekly chart. The coin gained 2.47% on the last day, showing a 0.57% price increase in the previous hour. With todays performance, Bitcoin SV joined the list of top-performing coins over the past timeframe and might be nearing $40.

Bitcoin SV Back In The Spotlight

Bitcoin SV was created in 2018 due to a hard fork from Bitcoin Cash led by the controversial Craig Wright. The idea was to create a blockchain that could process transactions faster with a larger block size limit, a major bottleneck for Bitcoin Cash and Bitcoin. 

In addition, BSV has incorporated Ethereum-like capabilities such as native tokens, smart contracts, and other features to ensure interoperability within its blockchain. However, the token has failed to gain the sort of adoption it envisaged and hit an all-time low on May 8, bottoming at $29.17. But a series of events in the Bitcoin ecosystem has made the controversial token jump into the limelight. 

Related Reading: Coinbase Engages Legal And Political Aids In Battling SEC

Top among these is the congestion on the Bitcoin network caused by Ordinals NFT and BRC-20 tokens. Bitcoin SV supporters believe its high transaction throughput and low transaction fees make it a better blockchain than Bitcoin, and the numbers support it. Currently, the average transaction fee on BSV is about $0.035, while average Bitcoin fees have spiked to $31.50 as more users jump on the BRC-20 token trend. This has led to a debate in the Bitcoin community, with advocates for increasing the block size growing louder. 

This move has been rebuffed by core Bitcoin maximalists who believe that increasing this capacity would lead to greater centralization As fewer people can run a node that operates using higher bandwidth. This could be Bitcoin SVs gain as proponents believe it could provide an excellent alternative and fulfil llSatoshi Nakamotos dream of a peer-to-peer electronic money system as outlined in the original Bitcoin whitepaper. 

Related Reading: Ripple CTO Labels BEN Coin As Scam, Bitboy Reacts

Bitcoin SV Price Analysis 

At the time of writing, Bitcoin SV is trading at $35.98, and if the bullish momentum continues, BSV could target $40 in the coming days. However, before reaching the $40 target, Bitcoin SV bulls may encounter an intermediate hurdle in the $37-$39 range.  

The price of Bitcoin can fall to $15,000 in 2023 if its strengthening correlation with certain macro charts is any indication.

This is an opinion editorial by Tali Lindberg, co-founder of Free Market Kids, a company focused on financial literacy and Bitcoin education.

Authors note: This is a politically-incorrect article because Im about to make gross generalizations about men and women. If you are easily offended, you probably shouldnt read on.

When I first entered the Bitcoin space, I met a woman who asked me if I was interested in starting a womans Bitcoin meetup.

I wish there was one, she said.

At the time, I was a bit offended by the idea.

Bitcoin is already a small space, why would we want to separate men and women? I wondered.

Since then, Ive had a change of heart.

Having participated in many Bitcoin events in different cities and states, Ive noticed that women are always outnumbered by men by a lot! I would estimate that 80% to 90% of the people Ive met in the Bitcoin space are men.

This is a problem.

Women have the power to shape the future leaders of this world through their intimate bonds with their children. A baby who is born this year may enter adulthood in a world where fiat currency is a thing of the past, and bitcoin is the global, digital currency.

This timeline, however, will not be possible without having the buy-in of more women.

In this article, I will discuss what Ive observed and make some recommendations on how to effectively introduce Bitcoin to more women.

Facts Vs. Stories

If you asked my husband what he thought about the state of the economy, he would immediately spout out facts about how our market is not free and how the government picks winners and losers. He would go on about zombie companies, malinvestment, how much the Federal Reserve inflates the money supply and how the chairman manipulates the interest rate, etc.

If you asked me the same question, on the other hand, I would talk about some of our elderly neighbors, and go into great detail about a recent conversation I had with a retired grandmother: Standing in the hot sun next to squawking hens as they pecked loudly and aggressively at their food, we discussed the challenges of protecting our chickens from predators and growing a garden, even though neither of us was passionate about farming.

(I can feel some of you getting impatient with me as youre reading this. Get...

The largest crypto exchange in the US, Coinbase, has made a notable move regarding the allegation from the US Securities and Exchange Commission on securities law violation. 

Coinbase engaged a Global Advisory Council for the battle with the SEC. The council comprises heavy hitters from both the political and legal sectors.

Coinbase Gets Heavyweights In Its Council

The Coinbase crypto exchange announced the launch of a new Global Advisory Council, with some former US lawmakers as members. 

According to the announcement, the Council will offer insights and business strategies for the exchange.

The Advisory Council includes political heavyweights like former Congressman Tim Ryan (D-OH) and former Senator Patrick Toomey (R-PA). 

Also, the Council includes former Congressman Sean Patrick Maloney (D-NY), John Anzalone from Impact Research, and Chris Lehane from Haun Ventures.

The Council will work closely with Coinbase Asset Management Academic and Regulatory Advisory Council members.

Similarly, the Coinbase body comprises prominent personalities such as former SEC Chair Jay Clayton and former CIA General Counsel Courtney Elwood.

Others are the senior managing director at Compass Lexecon Jon Orszag and Kevin Hassett of the Hoover Institution.

Coinbase noted that creating the Advisory Council is a step in the right direction for the company. It would help the exchange to maintain a flawless operation process while rebuilding its strategies in the US and globally. 

Coinbase is currently in a legal face-off with the SEC. So, engaging a new council is part of its preparatory strategies.

Coinbase Prepares To Fight With The SEC

Notably, the US SEC has toughened its regulatory stance in the crypto industry and is now closely watching most crypto-related firms.

In one of its enforcement actions, the SEC issued a Wells Notice to Coinbase in March, warning the company of a possible lawsuit over alleged breaches of securities. 

Reacting to the notice, Coinbase CEO Brian Armstrong noted that the regulator is focusing its accusations on staking and asset listing. He recalled that the SEC had reviewed the exchanges operations and approved its license in the past.

Ripples Chief Technology Officer (CTO), David Schwartz, responded to a tweet from a crypto enthusiast, calling the BEN Coin project a 100% rug pull. Schwartz asked the poster why he believed such but still stated his reservations about the new crypto project. 

So many crypto coins launch daily in the market. However, scam projects and rug pulls also deceive unsuspecting customers into investing.

A rug pull is a crypto scam where the project founder suddenly withdraws the projects liquidity, disappearing with investor funds. This leads to a sharp price drop and losses for investors.

David Schwartz Expresses Reservations About BEN Coin

A crypto enthusiast believes the BEN coin project was a 100% rug pull. Reacting to the tweet, Schwartz asked the user if he believed the rug pull would occur in the future or if Bitboys involvement in the project was a rug pull. Schwartz further concluded that he believed one of those scenarios.

Do you mean that the rug will be pulled in the future? Or do you mean that Bitboy joining the team is itself a rug pull? Because one of those things I definitely agree with.

David "JoelKatz" Schwartz (@JoelKatz) May 10, 2023

However, the popular crypto influencer Ben Armstrong, Bitboy,  reacted to these allegations stating that they are products of ignorance and hate.

He further explained that he is a force to reckon with in the crypto space, participating in projects that affected over 99% of the community. Also, he explained that his company employs over 40 people.

According to Armstrong, he has produced two videos daily in the past five years, a testament to his commitment to educating the crypto community. 

Bitboy asked the crypto community to stop believing memes that can create a negative impression.

Also, in another tweet, Armstrong informed his followers that he was taking over the BEN coin project. He also agrees with @eth_ben, a Twitter user, that BEN coins liquidity and assets will be transferred to him in a week.

Notably, BitBoy stated earlier that the coin was launched to serve as the governance token for his DAO. Also, the BEN token launched and traded for two days before BitBoy announced its existence. 

Memecoins can be used as a form of currency, although their acceptance and stability may vary.

BRISE, the native token of the Bitgert blockchain, has recorded some significant positive price movement in the last 24 hours. Although the BRC-20 token is still trading in the red zone, it appears to be attempting a market recovery following this sudden hike in its market value.

BRISE: Biggest Gainer In Top 200 Coin Roster

According to data by CoinMarketCap, BRISE has soared by 21.44% over the last day, making it the largest gainer among the Top 200 cryptocurrencies in the market, followed closely by the meme season diamond Pepecoin. 

This price movement has produced much excitement within the Bitgert community as the BRISE token has been in a bearish state for quite some time, recording significant losses. 

Data from CoinMarketCap shows that BRISE had lost 3.09% and 26.07% of its value in the last seven and 30 days, respectively. 

BRISE opened its weekly market around a price region of $0.0000003534 and exhibited a steady decline over the next few days before finding support around a market price of $0.0000002759 on May 12.

Thereafter, BRISE began to show signs of consolidation before finally experiencing a price surge yesterday morning to trade as high as $0.0000003781.

Although Bitgerts native token has slipped from such price heights, the decline has been insignificant, and BRISE appears to be gathering momentum for another price breakout. 

Interestingly, shortly after the BRC-20 tokens surge, Bitgerts developer team announced a supply burn of 500 billion BRISE tokens, which had drawn more interest to the asset as token burns are usually associated with price rises. 

500 Billion #BRISE burned!

Another 400 Billion #BRISE to be burned in next 6hrs!

Txn Proof: https://t.co/Dhtrk8fU49

Bitgert $BRISE (@bitgertbrise) May 13, 2023

At the time of writing, BRISE is trading at $0.0000003514 with a 0.4% gain in the last hour. The tokens daily trading volume is up 6.99%, valued at $9.71 million. With a circulation supply of 395.68 trillion tokens, Birgets native coin boasts a market cap v...

The United States Congressional Budget Office has predicted that the U.S. governments annual deficits will nearly double over the next decade.

Tether (USDT), the worlds largest stablecoin by market capitalization, was one of the dollar-pegged cryptocurrencies to have been affected by the collapse of the Terra ecosystem. Now a year later, the stablecoin has reclaimed its stable dollar peg and boasts one of the deepest reserves in the cryptocurrency industry.

Prominent Crypto Figure Dubs Tether A Precious Metals Powerhouse  

Gabor Gurbacs, on Friday, May 12, provided an insight into the significance of precious metals to Tethers financial setup. Interestingly, Gurbacs, the founder of PointsVille, dubbed Tethers USDT a precious metals powerhouse.

According to Gurbacs tweet, Tether Holdings Limited, the issuer of the USDT stablecoin, has placed substantial importance on gold, forging a solid reputation in the industry. His tweet also reveals that USDT, the third-largest cryptocurrency by market cap, has a staggering sum of roughly $3.4 billion in reserves held in gold.

Tether Gold-assets are around $3.4 Billion. XAUT AUM is around $500mm. Tether is now a precious metals powerhouse.

Don't underestimate the Tether team. High integrity and hard working team that supports Bitcoin, commodity technologies and financial inclusion. pic.twitter.com/0JPvNUk6n5

Gabor Gurbacs (@gaborgurbacs) May 12, 2023

In the same breath, Gurbacs noted that approximately $500 million backs the circulating supply of Tether Gold (XAUT), Tethers gold-pegged stablecoin. Furthermore, the amount of gold in Tether reserves far outweighs that of Bitcoin (BTC), which stands at about $1.5 billion. 

From Gubarcs perspective, the diversity of the USDT reserves which consists of gold, cash, corporate bonds, BTC, etc. helps protect the stablecoin against potential market collapses and unexpected negative events. Considering his advisory role within the firm, it may be fair to consider Gubarcs analysis of Tethers financial strategy as an insider viewpoint. 

Terra Collapse One Year Later

In one of the most catastrophic events in the crypto industry, the Terra ecosystem collapsed in May 2022, with its UST stablecoin losing its dollar peg. The ripple effect saw investors lose faith in most dollar-backed assets, including Tether USD. This caused the panic sale of these dollar-backed assets.

As a result, Tethers dollar peg broke momentarily, with the token falling as low as 92 cents at times. Furthermore, two months after the Terra collapse, Tethers market capitalization ha...

The crypto market has been looking to consolidate following a major price correction earlier in the week. One market that has felt the brunt of this correction is BRC-20 token which has suffered a major dip in its market cap. 

According to brc-20.io, which tracks the nascent market for tokens minted on the Bitcoin blockchain, the market cap of all BRC-20 tokens between May 8 and 11 went from $990,000,000 to $379,000,000, a 62% drop. At the time of writing, the market cap of BRC-20 tokens has rebounded and is around $570,000,000, making it a 40% dip within the seven-day trading period. 

Related Reading: Bakkt Streamlines Apex Crypto Platform By Removing 25 Tokens

The BRC-20 market is largely tied to the capitalization of ORDI token, which dominates more than 80% of the trading volumes. At the time of writing, it is currently trading around $15, down from its all-time high price of $28, achieved earlier in the month. The importance of ORDI in this market means that price variations directly and considerably affect the market cap of BRC-20 tokens. 

A Deep Dive Into BRC-20 Token 

BRC-20 is an experimental standard for issuing and transferring fungible tokens on the Bitcoin network. The deployment, issuance, and transfer of these tokens is done via a JSON data entry. Hence its relationship with the NFT Ordinals of Bitcoin. 

The creation of this standard is credited to a developer known as Domo on Twitter. On March 8, the computer scientist announced his progress in this area and acknowledged that it would be difficult for him to take this test further. For this reason, he preferred to share the project with others to experiment with. Since then, the ecosystem has exploded, with more than 14.000 tokens launched, according to brc-20.io.

Although the name BRC-20 is a reference to Ethereums ERC-20 standard. However, both standards differ in several of their characteristics, especially due...

0.00010 BTC = 2.69 USD
1.00 USD = 0.00004 BTC
Converter

Crypto mining firm Riot Platforms is seeking to terminate certain hosting agreements with Rhodium Enterprises and be relieved of refunding any outstanding power credits.

The meme coin space has long been dominated by the likes of DOGE, SHIB, and PEPE, but now a new entrant into the space has signaled a shift in the market. ETH Furbo (FETH) is an Ethereum-based token that gives PEPE reflections to all holders regardless of how much they hold. This means that while investors are earning significant returns on their FETH holdings, theyre also earning PEPE which means they are getting double the profits.

FETH Announces Presale Date

In its grand entrance into the crypto market, the FETH team has announced its presale date. The presale is scheduled to hold on Monday, May 15th, at 5 PM UTC and the page is currently live on Pinksale. This will give investors the first chance to get into the FETH token at the lowest price possible.

Welcome everyone. Our presale will be taking place on PINKSALE on Monday, May 15th at 5 PM UTC. Our page is now live on @pinkecosystem https://t.co/FvVb9IzqZa

Here's what to expect $SHIB $DOGE $PEPE $ETH $LADYS pic.twitter.com/Qb6WEypjcA

ETH FURBO | Hold $FETH For $PEPE REWARDS (@ethfurbo) May 12, 2023

Presales are important to new projects such as ETH Furbo an avenue to raise funds to provide liquidity and promotions for their token while giving investors an opportunity to buy the coins for a low price. This is because upon listing, tokens debut on the market at much higher prices, bringing presale investors good profits.

The total supply of FETH is 1,000,000,000,000 tokens and 56% of the total supply will be available for presale. 31.92% of the tokens will go toward the liquidity pool, 6.08% of the supply will be held for centralized exchange listings and liquidity for...

Calls for a boycott of Coinbase over memecoin controversy, Floridas ban on CBDCs, and the effects of Bitcoin Ordinals on the BTC network.

Ethereum core developers released patches for Prysm Labs and Teku clients in response to a Beacon Chain issue preventing block finalization.

Jump Trading and its CEO, Kanav Kariya, are accused of violating United States regulations and unjust enrichment in the lawsuit.

The hype around Bitcoin Ordinals and BRC-20 tokens is unsustainable and will fade away in a matter of months, according to JAN3 CEO Samson Mow.

Dogecoin (DOGE) has been one of the most talked-about cryptocurrencies of 2021, thanks to the involvement of high-profile figures like Elon Musk and Mark Cuban. Its value skyrocketed earlier this year, but has since retreated. 

As investors and traders keep a close eye on its movements, the next potential catalyst for Dogecoin could be a decisive breakout on higher-than-average trading volume. 

Lets examine the current state of Dogecoin, what traders are looking for in terms of a breakout, and what the future may hold for this popular meme coin.

Dogecoin (DOGE) Recent Performance And Price Action

On Wednesday, Dogecoins downtrend was confirmed as the cryptocurrency hit a lower high of $0.074 and formed a lower low at the 7-cent mark on Monday. As of Fridays 24-hour trading session, Dogecoin was attempting to print an inside bar pattern, indicating a potential bearish trend. 

Traders should monitor the cryptos movement and volume to assess its future direction, especially if it breaks up or down from Thursdays mother bar.

At the time of writing, Dogecoins price on CoinGecko was 0.072436, showing a 3.0% 24-hour rally. However, the last seven days have been challenging for the meme-inspired cryptocurrency, with a significant slump of 9.0%.

Despite the recent decline, theres a chance that Dogecoins local bottom has occurred as it was working to print a hammer candlestick on Friday. This candlestick pattern suggests that the cryptocurrencys downward momentum may have come to a halt, but it remains to be seen whether it can sustain an upward trend in the coming days.

Potential Catalyst For Dogecoins Recent Rally

Dogecoins recent 24-hour rally may have been influenced by the recent events on Twitter, which have been previously spearheaded by Elon Musk, the self-proclaimed Dogefather. 

However, he has now handed the leadership to Linda Yaccarino, NBCUniversals advertising chief, who appears to share Musks enthusiasm for meme coins.

Yaccarinos interest in Dogecoin and Shiba Inu is evident from the fact that she follows multiple affiliated accounts on Twitter, including the primary ones for both cryptocurrencies.

However, her views on key issues related to cryptocurrencies, particularly their potential role on social media platforms, remain largely unknown, despite her active presence...